Daily market summary for NF and charts, data of NF & BNF -17Feb'21

NF has closed at mid point of the day yesterday with no supply seen and path of least resistance was observed for upmove..But,NF has opened way lower from close which put pressure on buyers. 15300-15310 was support band and we opened below this. Probe was for 15235 and then 15190/15150 below 15310 and it moved till 15210 with liquidation at open from buyers under pressure. Then bounced to clear IBH and had a tight auction upside to turn into neutral day later clearing IBL again to print till 15165.

Suggested there could be fight for balance and two way auction possible and then later one camp to have convincing move today. NF has followed this auction today with neutral day.

Auction pointers from the day :

15220 was kept as support for swing and NF gone for value lower accepting below 15220.

NF got failed auction at top.

After having secured high yesterday, got a neutral extreme down day today with close at dVAL.

Second day of volume hitting 100 lacs mark.

All above information suggesting weakness to continue tomorrow if we start accepting below 15190 tail zone. Negation for the view at 15280 which could push back NF for balance in last 2days range.Staying below 15280 swing obj next is for 15070-15050 zone.

Price wise for next session, above 15250 could test 15275-15280 and bullish above 15280 for 15310-15320 and quite bullish further for 15350/15390.

Failing to sustain above 15250 could test back 15210-15190 and weak below 15190 for 15160/15120-15100 and if sustains could move to 15070-15050/15000.

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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