Daily market summary for NF and charts, data of NF & BNF -18Feb'21

NF got failed auction at top and printed a neutral day yesterday with back to back days hitting 100L volume..All was suggesting weakness if we start accepting below 15190 today..This 15190 held at open auction and above 15250 expected a move to 15280 and higher.15250 failed to sustain and got rejection today again with FA at top..

Failing to sustain above 15250 expected to test back 15190 and then probe was for 15100/15070-15050..NF made this move today failing to sustain 15250 and probed till 15070

Clues from auction today :

After FA at top yesterday, NF printed another FA at top today also.

Another day of neutral day failing to sustain IBH and going below IBL.

Double distribution down day with 3IB down move with dPOC shift into close to lower distribution and closed at dPOC..Skew still with sellers and as mentioned in commentary downside probe not yet completed..

Second day of one time frame down after having secured high at 15430.

Last two days auction and volume suggested weakness to continue and staying below 15280 swing obj was for 15070-15050 zone and this is done now..Staying below 15070 opens up 14935/14880 next.Negation moves to acceptance of 15210 for this..

Price wise for next session, above 15160 could test 15190-15210 and bullish above 15210 for 15240/15280/15310/15350.

Failing to sustain below 15000 and acceptance above 15065 could test 15100/15135.

Failing to sustain above 15150 could test back 15110/15075 and weak below 15070 for 15020/14990/14960 if sustains then could do 14935/14900.

Important nuance : Last week we had a nice balance and current week also sofar made a two days up and two days down balance and probed VAL of last week balance.If NF fails to sustain below 15070 tomorrow then odds are higher for heightened volatility all over the day due to price travelling between last week and this week balance..

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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