Daily market summary of NF and charts, data of NF & BNF -16Aug'21

NF had a triple distribution trend day in last session and to buyers have further control and rally, support kept at 16450-16460.. NF in morning open chop held this zone and rallied higher. Failing to sustain below 16490 and back above 16525 probe was for 16555/16580. This got whipped in first attempt right at open then later gone for this move in second attempt.After marking secured high, NF closed below dPOC.

Pointers from the day :

NF took support from trend day VWAP/POC zone and this becomes swing support now.

3rd day of one time frame up.

Though it was almost trend day, towards close NF seen some profit booking with close below dPOC negating trend day and just closed as normal variation up day. To get further bullishness they need to defend 16530-16500 zone in next session and move above 16580. Failing to sustain below 16500 or above 16580 early in session could have overlap value session as profile today left some anomaly with poor value area which can be filled/repaired.

Swing wise above 16400 expected a move to 16550-16600 and NF done this move now. Today's auction got lowest volume of recent times again with some profit booking seen. MO again moving down from last session on higher value almost kind of trend day. Suggesting balance possibility again. 16620-16640 zone negation for this balance view..As long as holding below this, could look for balance down till 16460/16380. Above 16640 could move higher towards 16750 with 16560 negation.

For next session, weak below 16530 to get 16500-16480 if sustains then 16450/16420/16390 probe possible. Quite weak below 16380 for 16350-16335/16300/16275/16240/16210.

Failing to sustain below 16510 and back above 16545 could get 16575-16595 and bullish above 16595 for 16620-16640.

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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