Daily market summary of NF and charts, data of NF & BNF -08Sep'21

NF registered neutral day + outside day in last session and expectation was to have balance and repair poor value area left. NF gone for OAIR rotation in first session filling previous session value area then later gone for liquidation break below PDL which could not sustain and rallied to dVAH for close. Failing to sustain above 17400 expected to get 17360 then 17335/17300 and below 17290 considered weak further for 17260. NF failed to sustain 17400 and dropped till 17275 and missed 17260.

Pointers from the day :

NF negated failed auction printed at low yesterday..Immediate negation of FA is another sign that balance is taking place.

It could not sustain below PDL of outside day and rallied back to dVAH for close.As mentioned in commentary, buyers should go for gap/drive above 17390 early in next session else could drop quick to 17340-330 to test strength of buyers who closed this at dVAH today.

Due to last hour auction, NF left poor value area today.Failing to get follow through higher and opening inside value could go for repair of poor value area again.

17360 support tomorrow and holding this and scaling above 17410 could get 17440-17450 and quite bullish above 17455 for 17480/17510/17540.

If fails to sustain 17420 then could get 17360 below 17390 and weak below 17360 for 17335/17310-17300 and quite weak below 17290 for 17260/17200/17160-17150.

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 :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.