Daily market summary of NF and charts, data of NF & BNF -21Aug'23

NF had neutral center day closing below dPOC in last session with advantage sellers due to value lower.Sellers next expected to stay below 19350-19370 to get follow through down else squeeze back to 3days balance expected..NF had a flat open at last close then defending 19370 tried to move lower.Move below 19315 expected to move down which got a whip and then started moving higher above IBH 19370 which lead to short squeeze all day then closed at dPOC.

Buyers came into auction post IB period and lead to short covering auction. Advantage buyers at close with dPOC close. They need to defend 19360-19370 if opens flat and push above 19395 via drive or better open higher above 19395 with gap or drive then stay higher all session. Buyers of today defending 19360-370 could probe higher towards 19460/19510.

Weak low at 19275 from last session and today auction also got no secured low but got triple tpo micro balance low.Buyers defending swing low for time being and likely to remain in balance to retest last two days lower zone once buyers of today done the job.3days balance now turning into 5days balance and tend to trade in this 5days range now..Upside max 19480/19535 now then could look for rotation down again to test today lower balance..

Levels wise for next session, move above 19415 could get 19445-19460/19490-19510/19535 if sustains more bullish towards 19600+.Failing to stay below 19340 and move above 19370 could get 19395-19410 then remaining obj as above. Failing to stay above 19470 and move below 19420 could get 19395/19365 and weak below that for 19340/19315 if sustains 19275/19250/19225 possible.

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.

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