Daily market summary of NF and charts, data of NF & BNF -21Feb'22

NF had closed at dVAL zone of 3days composite balance in last session. Expectation was gap/drive down. Considered weak below 17225 for 17180-17165/17125-17110 then quite weak below 17100 for 17070 and below..NF gone for clean open drive down till 17080 in A period itself then failed the drive and kept on bouncing till weekly composite POC zone but could not sustain there and gone down to close at dPOC of the day.

Auction recap :

4th day of one time frame down.

dPOC skew at close and close with sellers. They need to look for gap/drive down again else chop in value area in first session.

Weak low printed at last session got cleared and move below cluster low zone expected to fill till 17125 weak structure zone of 15/02 which is done now.

Swing wise,that wide POC at 17360 of the composite weekly still stopping the rally chances..Same zone 17360-17380 as negation and till we hold below that looking for one more test towards 17075-17050 zone then might be pulled back higher again to 17350.Auction of today and data suggesting today move higher was trap for buyers hence one more test to 15/02 POC/lower disbn possible before clean rally..

For next session, 17285 resistance..Above that could get 17320-17335/17375-17390..Above 17400 could get 17435-17450 if sustains then 17490/17500/17550 probe possible.Failing to stay below 17080 and back above 17180 could get 17220/17250-17275.

If fails to scale/stay above 17280 and moves below 17240 then could get 17210-17190 and weak below that for 17165/17125-17100. Quite weak below 17090 for 17060-17040 if sustains 16980/16950 probe 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.

Notes :

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