Daily market summary of NF and charts, data of NF & BNF -18May'21

NF had a emotional trend day in last session with price moving away from POC. Buyers for follow through expected to get value higher. They have gone for a clean large gap up and ended up with higher value day. Above 15085 probe was marked for 15130/15160/15190 and NF got till 15175 and closed at dPOC.

Auction pointers from the day :

Buyers in firm control after trend day with clean gap today and ended up with higher value justifying trend day yesterday.

Today’s gap is important in on going large balance due to,

a) Its clean extension on weekly above last week high

b) its extension on monthly too with a move above Apr high.

If buyers are committed this time, then this gap could hold and they could seek higher.

NF on daily accepted in 12th Mar extension singles of 7IB large sell off day. This is bullish as acceptance in rejection.

Today range is narrow and kind of short covering auction and seeing as pause now. As long as 15100 holds for tmw, buyers could get higher futher for immediate probe of 15220 which is obj for the acceptance in extn singles of 12/03.Below 15100 could see small liquidation move.

Swing wise,expected mean reversion from 15050 but today’s gap negated that view and swing now opened up for 15220/15340 with 15030-15050 zone as negation. Below 15030 could look for a move towards 14950/14850.

Price wise for next session, above 15170 could get 15220/15260 and above 15270 could move to 15295/15340.

Failing to sustain below 15100 could test 15150-15170 then 15220/15260 possible.

Below 15100 could move to 15070/15040-15030 and quite weak below 15020 for 14990/14960/14920-14900/14860.

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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