Daily market summary for NF and charts, data of NF & BNF -31Mar'21

NF had a trend day yesterday. 14860 was considered as immediate support to complete the auction upside further. NF had a weak open below extn singles of trend day and started accepting below 14860 at open. Below 14860 probe was for 14820/14790 and then for 14740-14720. Nf probed 14790 in IB period then gone for balance and later completed the probe till 14720.

NF negated a trend up day printed on Monday.Suggesting more of balance for few sessions.

It has printed narrow range considering last few days and also nice balanced profile. Suggesting imbalance auction possible for next session. Balance rules apply tomorrow.. Accept value area = trend ; failing to sustain value area = probe back entire value area.

Inventory gone short holding VWAP well in second session. They need to defend 14790 in first session else could lead to some short squeeze.

Swing support was suggested as 14720 which shown some probable secured high today and become a confirmed secured high if we move above 14820 tomorrow and once done should look for more higher and should not accept below 14760.

Price wise for next session, above 14790 could probe 14820/14860 and quite bullish above 14875 for 14920/14960/14990-15030 if sustains then 15075/15130-15160 probe possible.

Failing to sustain above 14840 and back below 14780 could test 14740 again and quite weak below 14730 for 14690-14675/14650 if sustains then 14590/14550/14500 probe possible.

Charts and data :

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