Daily market summary for NF and charts, data for NF & BNF -24Nov’20

NF had a neutral session yesterday and buyers had a edge at close with dPOC skew higher and price closing above dPOC..They were expected to defend 12920-12930 at open if wants to look for move higher today. NF also left a secured high via tail and sustaining tail was expected to be a trend. NF had a open in this tail zone and around previous FA zone 12975 and started accepting it..Above 12970 probe was for 13010/13050/13090 and NF gone for this move today with a tight normal day for most of session then extn later towards close and probed till 13080.

NF cleared previous FA zone and moved away from last week nice balance..12950-12980 VAH/balance high zone now swing support going forward..As mentioned in commentary, today's auction opened up swing obj of 13220/13350 as long as staying above 12950-12980 band.. Below 12950,we have balance till 12750.

NF had a quite a struggled auction today due to rollover as well as short covering but finally had a small spike..Closed at high with buyers advantage again. Buyers need to hold 13050-13040 in first session and go for higher overlap/higher value.Below 13040 could repair this profile till 13010 VAL zone/ 12980 tail zone.As range and volume was on lower side, repair means could be easily done when fails to sustain the follow through.

For next session, 13050-13040 support band to look for a probe of 13120 if sustains then further bullish for 13165-13185/13220.

Failing to sustain higher and move below 13040 could test 13010/12980/12965-12950..Quite weak below 12930 for 12890/12865.

Charts and data :

Detailed plan with refs to carry forward, trade hypos and nuances from the day are available to members.

Notes :

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