Daily market summary of NF and charts, data of NF & BNF -30Jun'22

NF printed a failed trend day in last session.Buyers expected to defend 15720 and go for one more overlap session. Expectation for buyers was to move higher to 15860 then create value higher else could do fill back 15860-15700 zone..NF had a open drive at open to get 15860 swiping above PDH but could not sustain and failed the drive quickly which lead to morning low break and lower to get 15710 then all day remained as overlap day to deliver another balanced profile and closed at dPOC.

2-3 sessions 15700-15950 zone filling was expectation and it has likely come to an end today with 3days balance forming quite a nice bell composite and closing at dPOC..

As mentioned earlier, we had lower volume 3days mechanically held auction + low conviction environment for upside.With settlement done, possibly this is over now and we got bell balance which could lead to imbalance away from this balance.As discussed in commentary, bias downside holding 15820 zone and quite bullish above 15820.

For next session, buyers need to sustain higher above 15820 to get 15860/15920/15960/16010/16050. Once sustained above 15820 then their negation is 15760.For sellers, need to defend 15780-15820 zone and start accepting below 15720 that mechanically held zone of last 3 sessions to get 15650/15600/15560/15520/15450/15350.

Charts & 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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