RK
- Dec 5, 2021
- 2 min read

Daily market summary of NF and charts, data of NF & BNF -03Dec'21

NF had a trend up day on Thursday and observation was that it was not clean trend day. Mentioned that it was very important for buyers to save that profile else all those anomalies and poor structure with mechanical supports could be repaired fully once they accept in mid day balance of Thursday. NF had a drive above PDH but could not sustain and gone for open rejection down move into previous session range.Then slowly turned out into trend day to repair entire profile till mid of buying tail of Thursday session and closed at dVAL.

Above 17470 probe was for 17500/17530 and NF moved till 17515 in that morning move up.. Failing to stay above 17470 and back below 17400 expected to get 17360 then 17290-17275. NF via trend down day gone for this entire move.

Pointers from the day :

NF negated previous trend up day.

NF left seling tail at top and its probable excess above 17445 now. Confirms below 17170. Excess because the way it got pulled up higher above PDH and then rejected quick and never moved higher to retest then turned into trend day down. All are clear sign of responsive OTF presence.

Till the extension singles and extension handles of Friday are held skew is for downside..Auction not complete downside with Friday close.

For next session 17265-17290 resistance zone. Failing to scale this and moving below 17220 could get 17190/17175/17155-17145. Quite weak below 17140 for 17115/17080/17040 if sustains then 17010-16995/16965-16950 probe possible.

If fails to sustain below 17170 and moves above 17220 then could get 17250/17280-17290.Bullish above 17295 for 17330/17365 is sustains then 17410/17440 probe possible.

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.This report is only part of it.

Charts :

Daily