Daily market summary for NF and charts, data of NF & BNF -10Mar'21

NF had a a 3days of overlap value + two way auction and 3rd day buyers emerged as winners with neutral day closing at dVAH with late spike on Tuesday..To avoid repair of poor value area and defend spike, expected them to move away from neutral day profile quick via gap/drive and expected to hold 15120-15100 all day in next session.

NF got a clean gap up after neutral day but could not sustain the gap and slowly moved down to close the gap and tested spike low zone and rejected around..Failing to sustain above 15180 and acceptance below 15130 was for short which could not materialise and after rejection below spike low zone, NF remained as balanced profile all day to close at dPOC.

Pointers from yesterday auction :

NF had a 3-1-3 profile i.e, tail at top and tail at bottom with nice balance after accepting previous neutral day. As mentioned in commentary though they could not clear IBH with higher value but accepting above neutral day with higher value gives the edge to buyers.

Another day of poor value area due last hour auction and to avoid repair of that NF should look for move away quick from this balanced profile. Else repair of value area in place.

NF printed 3rd day of one time frame up and closing at dPOC.Skew with buyers at close.

Swing view update : 14860 probe was expected when we were making 3days balance..And after 3days balance, balance rules was in focus to look for trend if we move away from 3days balance else repair of 3days of balance..Now we have moved away from 3days balance and registered 3-1-3 profile above. And,closed at upper quad the composite we are making since budgest session.

Check the composite chart below..

If this 3-1-3 profile of yesterday resolves upside then 14860 probe should wait. Acceptance above 15240-15260 VAH zone of this composite opens up probe towards 15375-15390 zone. As mentioned earlier, this 15375-15390 zone if taken out then swing view is for probe of 15550/15675-15700 with negation at 15140 POC of this composite..If 15375-15390 zone rejects, we could have one test back to 15260-15240 zone which should reject to remain bullish. If 15240 accepts then test of 15140 possible and below 15140 imbalance move down possible for 15850/15750.

Price wise for next session, above 15225 probe is for 15255/15305 and bullish further for 15345/15375/15415. Above 15425 could get 15465/15490-15510/15550.

If fails to sustain above 15375-15390 then could test 15340/15310-15290/15265..

15265-15190 whip zone.

Below 15175 could get 15140/15090 and quite weak below 15065 for 15020/14965.

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 :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.