Daily market summary of NF and charts, data of NF & BNF -29Sep'21

NF had a failed trend day in last session with rally close. Immediate reaction after such failure of solid trend day was to look for wild chop balance in next one or two session. NF got that wild balance two way move today. Roughly 17820-17620 range was kept to look for such balance and we got inside day in this range now.

Failing to sustain below 17620 and back above 17680 expected to get 17720/17770 which got whipped on first attempt and probed in next attempt then came down to dVAH for close.

Auction recap :

Inside day auction..Possible to have another overlap session considering the close today.

Lower bottom last two days profile getting wider with good volume happening last two days..Sign of some buyers defending hence some upskew filling of yday profile for another session possible.

Observation after yday auction is that buying tail at low of yesterday should hold for overlap session. It held today..Same ref of 17620 for next session too. Failing to hold this after last two days of good volume could lead to large liquidation entering into 21/09 trend day profile.

Upside extn handle of yesterday tested and rejected at 17780 today.As long as 17620 zone holding up, this could be tested again and acceptance above this, buyers could take it up way higher.

For next session, weak below 17680 for 17650/17620 and below 17610 could move to 17580/17555/17530-17510..If 17490 goes then 17450-17440/17410 probe possible.

If fails to sustain below 17610 and back above 17660 could move to 17690-17710/17750 if sustains then 17780/17820/17850-17870 probe possible. Above 17880 could get 17910/17945-17965/17990/18020-18035.

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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