Daily market summary for NF and charts, data of NF & BNF -05Mar'21

NF had a tail at both ends on Thu and left poor value area again..Expectation was to have fill back in 2days range..But, NF had a gap down below PDL and gone for large open auction move.Considered the day weak below 15070 for 14890.Bounce after gap down in IB could not sustain above 15070 and left selling tail above 15070.Auction remained lower all day below this 15070 which lead to long liquidation from stuck buyers of previous session which probed below 14890 and then had a bounce to close to around dPOC zone.

Auction pointers from the day:

NF left a selling tail on long liquidation day. Acceptance of this tail could take care of filling poor value area of 04th Mar.

NF had weak low on Thursday at 14992 which was spike high of 02nd Mar Expected this to be cleared sooner and got cleared in yday auction.

Swing wise, 14840/14720 with downskew was the expectation and NF probed till 14860 now. And, auction still not completed on downside swing wise and this large balance as mentioned few days back could continue till we clear 14740-14720 zone..So, any rise from here could face exhaustion/supply for price to revert back below 14860 PDL again in coming sessions. Same negation of 14375-14390 for this large balance view. Below is the composite since budget day.Another week or two may be could go in filling this composite to get a clean balance before move away from this large balance.

Price wise for next session, staying below 14980 is weak and acceptance is bullish. Above 14980 could move towards 15020/15060 and quite bullish above 15060 for 15095/15125 if sustains then could get 15160/15190-15210. Above 15225 could move to 15255/15305.

Failing to sustain above 14980 could test 14940 if sustains then 14875/14840-14825 possible.If sustains then 14780/14740-14720 could be probed.

If fails to sustain above 15120 then could test 15060 if accepts then 14990 probe could be done.

Failing to sustain above 15200 and acceptance back below 15140 could test 15090/15060/14990.

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Data

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