Daily market summary of NF and charts, data of NF & BNF -20Jun'22

NF printed 3-1-3 profile in last session and expectation was imbalance next.Below 15240 expected more liquidation. NF got higher open but could not sustain value of 3-1-3 profile and gone for entire value area probe. Below 15240 liquidation not much of liquidation except clearing PDL. Then, NF gone for overlap session to deliver a nice 2days bell balance closing above dVAH.

It was short covering profile and 2days of nice balance closing above dVAH. Again edge with buyers at close.

We had 15260 zone from Friday and then 15300 today got some clean inventory shift..Auction wise,evidence is here that buyers trying to pull this up.

It left a double print tail at low today and buyers next should defend this tail and accept above value area of this 2days balance to look for probe of 15450 and above. And, once moved higher should not come down back into this 2days value area.15345-15295-15270 value area of 2days balance now.

Back below 15250 could expect liquidation move down towards 15150/15090/14980/14920..If no acceptance below 15200 then another session of overlap possible.

Swing low is weak now and yet to have clear secured low. As discussed earlier, double print tails are not good enough to hold for long time..Max they could do some short term move upside then could be eaten back. We are having 11 days of one time frame down now so odds there for such bounce to adjust inventory.

Buyers trying hard last two days and closing at higher quad..So, its their job now to get a relief rally..As mentioned in previous report last week, any move from here could only be just a bounce and expecting rotation down if we move higher, either from 15480-15550 zone or max 15700-15750 then rotation down. Downside obj 14950 still open.

Charts & data :

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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