Daily market summary of NF and charts, data of NF & BNF -01Aug'22

NF had a neutral extreme up close with spike in last session..Staying in/above spike was considered strength. NF at open auction rejected at spike zone then all day delivered slow trend day to close at high.

NF left large buying tail at low. 4th day of one time frame up now.

It had a slow trend day with quite a poor value area. Entire move today done mechanical holding intra support zones. Buyers should stay away from value area early in the session and then should never come back into value area in next session..Failing to do so value area repair possible.

Observation after last sesssion was melt up picking up pace and next probe was for 17340 since 17200 got cleared..This is done today and NF shown sm struggle today around 17340 large time frame HVN zone but closed higher which makes 17290-17320 swing support now..As long as this band holds, skew can be higher and once that goes we could look for some balance forming as this 17340 zone got such potential to send auction into balance.

No rotation down from this 17340 and buyers able to sustain above today's value area means then next probe is towards 17480-17520/17600 next weekly obj zone on swing with 17290 negation.Weakness below 17290 for 17220 which can see bounce else 17160-17140 band which could again bounce this higher to form a balance.

Charts and data :

Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.

Notes :

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