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Daily market summary for NF and charts, data for NF & BNF -20Jan’21

Writer's picture: RKRK

NF printed a trend day yesterday and dPOC was higher with buyers for follow through at close..14540 was kept as support for the session and holding that probe was for 14610-14630/14660-14670. NF had a open around 14520 below 14540 support but could not sustain and gone for quick open drive and got 14630 early in first session.Then gone for balance and got sluggish move towards 14670 before close and ended above dPOC.


Auction pointers from the day :


NF negated entire selling tail from 15th and cleared unsecured high above 14660.That mean reversion move from 14280 zone done its objective.


NF gone for outside week with low and high of last week cleared this week. Immediate reaction after such auction is for balance inside last two weeks range.First sign of confirmation for this is failure to sustain above 14660 with value and then next confirmation is acceptance below 14550. Failing to sustain inside 14660 and making higher value above 14660 is quite bullish towards 14830/14900 for the week.


NF left a weak low around 14580 and had poor value area today due to whipped auction of second session..It has left anomalies in profile. Looking for a probe till 14560 minimum before any large rally.


Price wise, 14620-14610 support for tomorrow and holding this could test 14660 if sustains then 14690/14730 probe possible and quite bullish above 14750 for 14790/14830 later in the day.


Failing to sustain above 14660 could fall back to 14620-14610 and weak below 14610 for 14570-14550 and quite weak below 14540 for 14510/14485/14450-14420.


Charts and data :







Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members.


Notes :

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