Daily market summary of NF and charts, data of NF & BNF -19Jul'21

NF had 5th day of one time frame up in last session and it was nice balanced profile.It lead to imbalance today. It had a clean gap down and had a open test drive up which lead to tight upper balance..It could not get follow through higher and resolved down in second session extending below morning gap low and closed around dVAL.

Pointers from the day :

It was clean gap down day resolving lower further post gap and closed around dVAL. Sellers in control.

NF stopped 5days of one time frame up.That climax move happened with poor structured profiles from 14th and 15th got repaired now.

Double print tail with ledge at 15950 from previous session has got neat follow through and marks that 15950-15970 zone as excess now.

As discussed in commentary, auction is not yet complete at day low today and could get more follow through downside.. 15780-15810 strong res now and negation for the view.

Swing Long triggered at 15820 after meeting 15880/15950 obj got stopped with gap down today. Below 15870 mentioned for swing short and due to gap this lost a chance for trigger and it almost tagged obj 15700 today..Staying below 15820 this could do more still towards 15600/15500-15450 next context wise.

On larger picture mentioned under weekly section that overlap not going to help buyers if they fail to clear higher with dPOC skew into close last week..Now, week has started resolving downside and 15750 was good support for them to hold which didnt show sign of demand today.That leaves next zone 15670-15650 marked to look for defense else 15500-15450 next to start with as mentioned.

For next session, 15765-15780 resistance..Above 15780 could get 15820-15835/15855/15890. Above 15910 then 15935-15950 possible.

Failing to stay above 15765 could test 15720 and weak below 15720 for 15680/15650-15635 and quite weak below 15620 for 15580/15550-15530/15490-15480.

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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