Daily market summary for NF and charts, data of NF & BNF -08Feb'21

NF had 3-1-3 balanced profile on Friday and expectation was for imbalance away from that profile.NF gone for gap up today and probe upside was for 15090/15170-15190 and it managed to probe close to 15170 via normal variation day and then closed at dVAH.

Auction pointers from the day :

NF printed 6th day of one time frame up.

NF got a gap up and buying tail and closed on the gap side at dVAH..Any retest on this gap and tail zone immediate could see a demand in next couple of sessions.

That acceptance above 14975 on Friday with value accepting above double disbn day from 04th Feb has given a clue that buyers were still in firm control. Today's auction of gap up + tail + higher value suggesting 14950 now becomes good support to look for next leg of auction.Range and volume shrinking last two days..So, even if they could go for balance, they have shifted the base with today's auction.

It was short covering auction today and at highs probe looks yet to complete and looking for further follow through in next session.

Price wise for next session move above 15150 could probe 15185/15210 if sustains then 15250/15290 probe possible later.

Failing to sustain above 15180 and acceptance below 15120 could test 15060/15010.

Failing to sustain below 15060 and back above 15110 could get 15140/15170.

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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