Daily market summary for NF and charts, data of NF & BNF -24Feb'21

NF closed below dPOC on higher volume day yesterday and observed skew was with sellers and 14740-14760 was considered as res to get a move below 14700..We had a open today in this 14740-14760 zone and moved down but could not push below 14715 and turned into open test drive up. Above 14760 probe was for 14820/14860 and NF made a move till 14845..Then stuck into glitch issue from exchange which lead to sell off and halt..Post open from halt, had a quite imbalance squeeze up to close at day high.

Pointers from the day :

Not a day to draw any meaningful references and better to wait for tomorrow first session to find value and then draw conclusions..So, do not pay attention to value posted today for NF..And, I have removed freak tick and considered properly traded high as day high.

NF stopped one time frame down on daily after 5days.

Swing wise kept 14820 as ref for a move towards 14550 and this got negated today.Above 14820 expected 14980 which is done today..Now looking for a balance as long as staying below 14980 to fill today's imbalance zone till 14900/14850 zone as mentioned in commentary. Upside can stretch till 15065 and quite bullish swing wise again above 15065 towards 15150/15230.

Price wise for tomorrow, to remain bullish NF should hold 14960-14980 zone to move towards 15040-15065 if sustains then 15110/15135/15190/15230 probe possible..

Weak below 14960 for 14910/14870/14835-14820 and further weak below 14780 for 14740/14710.

Failing to sustain above 14980 and below 14820 could result in two way balance filling today's imbalance zone..

Important nuance : If we open below 14960 tomorrow, then defer trades as much as possible as it could lead to heavy chop for some time to find the value.

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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