Daily market summary of NF and charts, data of NF & BNF -26Aug'21

NF had failed auction at top in previous session. Failing to sustain below value of previous session and back into value area expected to be a choppy day between buyers and sellers to repair poor value area of previous session. NF gone for this move today. It could not sustain below PDL and back into value area earlier in the session and gone for two way balance all day.

Pointers from today's session :

Probable excess at top from yday got confirmed today as NF got lower overlap value as well as stopped one time frame up on daily time frame.So, yday FA at top is excess now.

It was almost normal day today as not much of auction beyond morning IB range..Likely to get some imbalance move in next session.

As long as FA at top holds in 16695-16715 zone, probe now could be on downside in coming sessions.

Swing long triggered at 16645 still holding up as today low was just freak tick at open and no traded ticks today below negation ref 16580.Could maintain same negation and hold this for one more session.Swing shorts below 16570 now with 16700 negation for 16450/16335/16220.

For next session, if fails to stay below 16595 and accepts back above 16640 then could get 16670/16690. Above 16695 could probe 16720/16745-16765/16790.

If fails to sustain above 16685 and back below 16650 could probe 16625/16590 and quite weak below 16570 for 16535/16510-16490/16465.Below 16460 could get 16430/16410-16390.

Charts and data :

Current month

Next month

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 :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.