Daily market summary of NF and charts, data of NF & BNF -04Aug'21

NF had emotional trend day for new ATH in previous session and expectation was to have balance in 16050-16200 zone. NF today gapped up and gone for higher value and balance all day after morning IB drive. Above 16220 probe was for 16270 which NF did by IB period then remained in balance holding gap and tail of morning and closed at dPOC.

Pointers from the day :

NF printed 5th day of one time frame up.Buyers still in control.

NF had a gap up and buying tail which is ref for next session.

Despite higher value day, MO reading which tracks advance and decline in market dipped a lot today from flat from last session close to -19 today suggesting market move today not backed up by broader market. This is a sign for balance to emerge if NF fails to get another higher/higher overlap value session tomorrow.

16220 support zone tomorrow.Holding this and acceptance above 16245 could get 16270-16290 and further bullish above 16310 for 16345/16365-16380. Failing to sustain below 16190 and scaling above 16220 could get 16245/16270-16290.

Failing to sustain 16280-16290 and accepting below 16255 could get 16220 and weak further for 16190/16160/16130/16100/16080-16060.

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 via private blog.

Notes :

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