Daily market summary for NF and charts, data of NF & BNF -26Mar'21

Sellers established control on Thursday with clean extension on daily below major swing low/March low. Expected downmove to continue further but NF opened above VAH zone.. Failing to sustain above 14550 was expected test back 14500/14460..NF could get only 14500 at open auction and then started moving higher..Acceptance above 14550 was considered bullish for 14640-14660 and NF gone for this move then remainined as higher value balanced profile till close.

Auction pointers from the day :

Thursday we had a clean selling tail..Acceptance of this tail happened on Friday with higher value profile. If they get further follow through higher then possible trend reversal upside. Failing to get follow through higher and accept below VAL of Friday then downside resumes to test 25th lower quad zone to start with.

NF left a secured low and high and balanced profile.Could lead to imbalance move from this profile.

Price wise for next session, 14590 support zone and 14650 resistance zone..Acceptance above 14650 is bullish for 14690-14710 and quite bullish further for 14760//14820/14850 if sustains then 14900 probe possible.

Weak below 14590 for 14560/14510/14480 if sustains then 14440/14400/14340 probe possible.

Charts and data :

Daily

Weekly

Monthly

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.

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