Daily market summary of NF and charts, data of NF & BNF -17Dec'21

Green tickz
Dec 19, 2021
2 min read

NF had a close at dVAH as well as at 3days balance VAH zone on Thursday showing bullish intent. After 3days bell balance expectation was to look for imbalance session next. Buyers if committed then expected them to accept above 17360. Support was kept at 17280 for buyers and move below 17275 probe was for 17175 and considered quite weak below 17165 for 17030. Buyers failed to move higher and NF had a open drive down straight away below 17275 and completed entire probe zone till 17030 and below on another long liquidation profile then closed around dPOC.

Pointers from the day :

NF left large selling tail leaving away from 3days balance zone and closed lower. Now, this 3days balance low zone 17200-17250 becomes solid resistance for entire week and any attempt of bounce towards this zone first time could see sharp sell off again till we get another clean move down as auction is yet to complete on downside.

Despite closing at dVAH of 3days balance, NF gone for sharp wide long liquidation profile. Buyers failed quite badly and it would be quite tough for them to recover from here..Context is liquidation started from 17680 zone via large liquidation profile towards 17400 and then gone for nice balance between 17400-17220 for 3days.When buyers were expected to move away from balance to repair some of long liquidation happened from 17680, they gave up further and lead to another clean liquidation towards 17000 from 17400-17220 balance.

Now, its a structure of liquidation then balance then another liquidation..This is kind of jumping out floor by floor hence recovery becomes a quite difficult task till clearing all recent supports below to clear all old inventory and get in fresh inventory..Old inventory clearly no sign of coming for rescue now.

3 days of nice balance composite had higher odds for imbalance next session which got resolved on downside..But, auction is incomplete as said above at low in last session and looking for test of 16920-16900 zone minimum to get this auction to complete. Upside 17090-17120 negation zone for this view.

For next session, staying below or failing to sustain above 17040-17060 zone and breaking 17020 probe is for 16990/16960 and weak below further for 16925/16895 if sustains below 16880 then could get 16840/16810/16780/16745/16720-16710.

Above 17065 risky longs towards 17095-17110 if sustains 17130 then bullish for 17160/17195 and quite bullish above 17195 for 17240-17265/17300.

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.

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