Daily market summary for NF and charts, data of NF & BNF -01Mar'21

NF had 3IB down long liquidation day on Friday..Expectation further was for further downside or overlap for few sessions in Friday range..NF gone for inside day auction within Friday profile.Failing to sustain above 14690 and back below 14650 was considered weak and NF held this 14650 after opening around 14720..Above 14750 probe was for 14790-14820 then towards 14875. NF probed 14790 by IB and then extension above 14820 could not sustain and get 14875..It remained as two way auction day all day then to close at dVAH.

Auction pointers from the session :

NF printed inside day with poor value area. Need to sustain beyond value/range to move further away from this profile.Failing to do so could go for entire value repair.

NF created value in maj extn handle zones from Friday 14755-14820..Sign of supply easing of as of now and this opens up probe till 14920 if 14720 held in first session tomorrow.With this fill in extn handle zones, if they get follow through higher to sustain 14920 with value then swing obj is for 15150 as mentioned in weekly section.

dPOC moved up by close at dVAH zone = skew with buyers at close..If this dPOC skew holds 14780-14790 at open then could scale PDH 14835 to get 14875-14920 straight and quick early in the session.Failing to do so and move below 14780 early means this skew was due to short covering and it could push it down to 14730-14720 quick..

After today's auction 14690 today's buying tail zone around Friday POC becomes good support for swing.If that goes then could move towards lower end of Friday profile below 14600 towards 14550 zone.

Price wise for next session,staying above 14780 probe is for 14835 and bullish further for 14875/14920. Above 14950 quite bullish for 15020/15075 if sustains then 15150 possible.

Failing to sustain above 14830 could test 14790 if sustains then 14760/14735 probe possible and quite weak below 14710 for 14680/14650 if sutains then 14590/14550 probe possible..

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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