Daily market summary of NF and charts, data of NF & BNF -01Dec'21

NF had a sellers advantage close in last session with FA at top + neutral extreme down close and weak low printed at 17000. Sellers expected to get clean follow through down else short squeeze was expected. NF today opened above VWAP of neutral day pushing sellers to squeeze out at open auction. Then remained in two way balance all day with heavy chop and ended as neutral extreme up day.

Considered quite bullish above 17165 for 17205/17245 which happened in morning open session then gone for two way auction and closed at dVAH.

Pointers from the day :

NF negated neutral extreme down selling day of previous session.

It has left neutral extreme up day with close at dVAH.

NF got failed auction at low today.

It has left clean poor high at top which cleared weak longs during last hour and got failed auction at low with tail.

All above info infavour of buyers to look for follow through higher for next session.They got large tail retest at 17000 yday and now got above bullish structure. Need to clearly accept above 17250 in early auction via gap or drive to move away from today's profile and stay above all session.

Inside day with poor high and auction incomplete upside. Could look for imbalance day next.

For open session, I prefer to keep large support band 17150-17180 and failing to sustain here could get 17245 and bullish above 17245 for 17270/17300-17320/17350-17360 if sustains then 17400-17420/17480-17510 probe possible.

If fails to sustain above 17300 then could get 17230/17190/17155. If fails to sustain above 17250 and breaks 17190 then 17155-17145 probe possible and weak below 17145 for 17115/17080/17040 if sustains then 17010-16995/16965-16950 possible.

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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