Daily market summary of NF and charts, data of NF & BNF -26Jul'23

NF had a close with buying tail after 3days of one time frame down in last session and that tail was from weekly support zone..As the expectation was for rotation in upper balance of month, buyers next if sustains VAH of last session then expected a move towards 19780/19835. NF gone for this auction today. It opened at VAH and sustained higher via open drive. Marked obj till 19820-19830 above 19710 which NF probed then dropped to test morning buying tail then closed at dVAL.

Short covering profile stopping 3days of one time frame down.

Negated FA at 19808 from 21/07. and now this zone got the dPOC shift from lower levels for the upper balance of the month.Today's wide POC also there due to extended period of balance entire session.

Buyers job next session is to sustain above this POC 19805 to get value higher and once done never come below this POC.Buyers of today is around 19735-19745 zone..Weakness if this POC is not cleared but we move down to clear this buyers zone. Sellers job for next session is to stay below 19805 and start pushing below this 19735 to get liquidation move towards 19685-19675 and sustains means more weakness.

Levels wise for next session, failing to stay below 19740 and move above 19775 could get 19805-19815 bullish above that for 19835/19870-19885/19920. Not able to stay below 19680 and move above 19720 could get 19745/19775/19805/19835. Failing to stay above 19820 and move below 19790 could test 19760/19735 and weak below 19730 for 19705/19680-19670 and quite weak if sustains below 19670 for 19645/19620-19610 then bounce possible..Staying below 19610 could get 19580-19570/19545-19535.

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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