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

NF printed a neutral day + 3-1-3 profile in last session and expecation was trend if sustains value area else probe back in value area..And another observation was that day low was weak with 04/06 low and swing wise probe downside was not complete. Hence expected supply if price moves back to 15750.

NF opened around 15750 above VAH of 3-1-3 and could not sustain and gone for drive down quick to VAL zone to probe back entire value area..Then sustained below VAL zone of 3-1-3 profile and gone for trend down quick in IB period. Failing to sustain above 15750 probe was for 15670 and then for 15530. NF did this entire move and shot down till 15465 in ABCD period..Then gone for balance bounce to close above dVAH at close.

Pointers from the day :

NF left a selling tail as well as buying tail and balance inside i.e, another 3-1-3 profile. Failing to sustain value area could go for filling value area with overlap inside day profile in next session ; if sustains value area could trend that side.

Island profile from 15th done its entire objective marked till 15550 and beyond. In the process it has made new low for June and cleared last week low too.

In the weekend report mentioned that odds are higher for one time frame up on weekly can get stopped this or next week considering we were having one time frame up for 7 weeks which is above average reading. NF gone for this and stopped one time frame up after 7 weeks. It has now printed outside week bar i.e, look above last week high > failed > gone below last week low. As long as not able to sustain away from this week range, bias is to look for overlap week to probe within this week range to have balance.

Swing trade on sell side triggered at 15700 met its obj 15550 and next leg now only below 15400 now for 15280/15220 with 15550 negation. Till then view is neutral to look for overlap in this week range. Bullish above 15810 as of now for 15890/15950/16080 with 15700 negation.

For next session, below 15670 could test 15620/15680/15540-15520/15480 probe possible and weak below 15480 for 15450-15430 if sustains then 15390/15350/15300 probe possible.

Failing to sustain below 15520 could bounce back to 15550/15580/15620/15670.

Above 15750 could get 15775/15810 and quite bullish above 15810 for 15840/15860.

Charts :

Daily

Weekly

Monthly

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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