Daily market summary for NF and charts, data of NF & BNF -15Feb'21

NF has left a outside day+neutral day on Friday with a sign of existing balance coming to an end and expected next leg of auction. Sutaining the range of outside day was expected to be a slow value skew trend day away from range.NF gone for this upside skew auction today. NF had a gap up above PDH and held the gap and gone for first swing obj of 15340 and above today.

Auction pointers from the day :

NF had a gap up and tail combo leaving away from last week balanced range = bullish. 15240-15220 zone now becomes swing support.

NF upside probe not completed with auction today and could go for further move higher in next session.Any move tomorrow if we get towards VAL zone without follow through higher from PDH, that could be used to look for buying considering balanced profile in new range today. No sign of supply in today's auction so any dip after today's auction is a buy to get a clean follow through move above day high.

NF had registered narrow range + low volume (just 69lacs) combo day..If repeats same combo of auction tomorrow also, then after a session or two could look for some balance..Need higher volume above 100L to look for any rally above 15450 as of now..

Price wise for next session, 15300-15320 support band to get PDH swipe to get 15380 if sustains then 15430-15450 probe possible.

Buy on dips could be focussed around two zone a) VAL zone 15270-15280 failure to push higher for 15320/15350/15380 if sustains then 15430-15450. b) Gap zone 15240 failure to push higher for 15290/15320/15350/15380 if sustains then 15430-15450.

Failing to sustain above 15350 could fall back to 15310/15275/15250 if sutains then could move towards 15210-15190 and quite weak below 15190 for 15150/15100.

Charts and data :

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.

Notes :

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