Daily market summary of NF and charts, data of NF & BNF -30Sep'21

NF had a inside day in last session and expected another overlap session. Most of the session it remained as overlap day and towards close gone for range extension down then remained choppy and closed below dPOC.

Pointers from the day :

NF could not sustain above IBH and left failued auction at top.

This FA at top resulted in neutral day clearing IBL..It also cleared last two days low and pushed dPOC down for close.Edge with sellers at close.Sellers who pushed down for 3IB day on 28th held extn handle zone 17780 on rally back and now shown up again with FA today to clear last two days tail zone..They need to defend 17680-17700 zone now to look for more downside.

Buyers who defended 17620 with tail in last two sessions gave up today..As mentioned earlier, this 17620 zone important ref which is easing off..Acceptance below this in next session could lead to more long liquidation.

For next session, 17660-17680 resistance zone..Holding this and moving below 17620 could test 17590 and weak below it for 17555/17530-17510 and further weak below 17490 for 17440/17410.

If fails to sustain below 17590 and back above 17635 could move to 17660-17675 and bullish above 17680 for 17720-17740 if sustains 17750 then 17780/17820/17850-17870 probe possible.

Charts and data :

Current contract

Next contract

Monthly charts

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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