Daily market summary of NF and charts, data of NF & BNF -25Jun'21

NF printed double distribution trend day up with dPOC close in last session and skew was with buyers at close. Staying above 15770 expected them to seek for further follow through higher. NF opend above PDH and gone for open test drive down which got failed and then moved higher to close at dPOC..Considered weak below 15800 and NF sustained above 15800 and reversed up.

Pointers from the day :

NF had a profile with no secured high and low. Kind of less committed day.

It was one of the highly mechanically auctioned profile all day with all visual ref all through the day held.Carries higher risk with long side. Failing to sustain above this profile could go for entire repair of profile all the way down to 15820/15800. To avoid this, buyers who had a close at dPOC should go for drive/gap up and sustain higher all day in next session to start a fresh leg.

After a outside bar last week, expectation was to have few sessions of auction within that week range and NF ended this week as inside week auctioning within last week range..If we sustain above this week range earlier in current week, then odds are higher for fresh leg to start upside with negation at 15820 on swing. Swing wise long got triggered at 15800 met its first obj marked at 15900 and can be now trailed at 15820 for 15990/16080.

For next session, 15850-15860 support if holds then could clear poor high to probe 15920 then 15950 and quite bullish above 15960 for 15990-16020/16080.

If fails to sustain above 15900 and accepts below 15880 then could test 15850 and weak below 15850 for 15820-15800 and quite weak below 15780 for 15750/15720-15700.

If fails to sustain below 15800 and accepts above 15840 then could test 15880/15920/15950.

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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