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

NF negated entire selling tail of 20/12 in last session and rejected at half gap zone.It has left poor value area and today NF gone for entire session repairing that upper quad poor value area then ended up higher with spike at close. 16830-16850 considered as resistance for today and NF opened above this zone and held this band at open.Probe was for 16880/910/935-945 above 16850 which happened in IB period till 16935. If fails to sustain above 16940 and moves below 16880 then probe was for 16840/16800 and it got 16830 then gone for all day balance and closed higher with spike.

Pointers from the day :

NF left failed auction at low after buying tail yesterday. Another session with advantage buyers.

It was another neutral day after previous session i.e, clearing initial balance extremes both side. Neurtal extreme day close with spike up. Spike rules apply for next session. Spike zone 16940-16985. Stay in spike = bullish ; stay above spike = quite bullish ; stay below spike =weakness.

It was narrow range lower volume session.Hence, buyers job tomorrow to save this spike zone and move higher quick and save spike zone all day else could be pulled back quick to wide POC of the day at 16895 then to FA at low.

Monthly and weekly in sell mode with value down and daily got 2 days of bullish auction now with tail and higher value last session then today FA and spike close. Will wait for another session to confirm if 17050 accepts or not to switch swing bias. Back to back neutral days and spike on lower volume/range day still suggesting to look for balance..One more session to change this stance.

16950-16930 support for next session and holding this and scaling above 16985 could get 17020 if sustains then 17060 then 17095-17110 probe possible. Further bullish above 17130 for 17165/17195-17220.

Failing to stay above 17060 and back below 16980 could get 16940 and weak below 16930 for 16905-16895 if sustains then 16865-16855/16830-16820 probe possible.Quite weak below 16805 for 16780/16745-16730.

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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