Daily market summary for NF and charts, data for NF & BNF -09Nov’20

NF had left a poor value area and dPOC skewed to dVAH by close on Friday..To avoid repair of poor value area,buyers were expected to quickly move away from that profile.NF gone for a large gap up around 12400 today.Large gaps usually known for open auction and balanced profile for most of the session and NF followed the same today.Above 12375 probe was for 12450 and NF had this probe done in IB itself and gone for entire day balanced auction in IB zone. By close, had a extn higher towards 12480 and closed at highs.

NF has delivered 6th day of one time frame up..

NF had a large gap up and higher value to mark new ATH and by close got extn handle at 12450 above ATH..This becomes swing support going forward.

Expected balance to return with given structure down but today's large gap up on daily as well as weekly started next leg and all poor structure down now needs to wait.

As mentioned in commentary, today by close, auction was not completed and buyers were still seeking for follow through from today's auction upside.

Price wise, staying above 12450 probe is for 12510/12550 if sustains then 12580-12620..Above 12640 quite bullish for 12670/12710/12750/12790-12830.

Weak below 12450 for 12400/12375 and quite weak below 12340 for 12300/12280-12265/12190/12150.

Charts and data :

Detailed plan with refs to carry forward, trade hypos and nuances from the day are available to members.

Notes :

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