Daily market summary,charts and data for NF -05Oct’20

NF had a trend day in previous session and didnt have a secured high..NF opened with gap up today and above 11480 probe was for 11530 zone which happened quick via open drive.NF then had a quick extension above naked POC zone above 11570..Later, open drive failed and gone for testing morning large tail zone, failed to sustain and closed at dPOC..

It was 3-1-3 profile today with double print tail at both high and low with nice balanced auction in between..i.e, both buyers and sellers tried to control the auction and ended with balance.Sellers did a poor job today as could not sustain in tail of higher value day and buyers snapped back the price to close at dPOC on higher value day.So, its buyers job now to get further follow through from this profile..Post 3-1-3 profile, auction if accepts tail zone = trend ; fails to sustain tail = probe back entire value area..

NF had a higher value day after a trend day above 11300 balance zone..Buyers in firm control as of now and could look for probe of 11620 zone going forward holding 11470-11490 zone..Above 11620 its wide open extn singles zone till 11750.

Price wise, tmw above 11555 could probe 11575/11600-11620 probe possible..Later if develops value higher then could move towards 11650 and above..

Failing to sustain above 11550 could drop to 11520-11490 and weak below 11470 for 11450/11420/11390..

Failing to sustain below 11490 and back above 11520 could probe 11550/11575

Chart and data :

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