Daily market summary for NF and charts,data for NF & BNF -12Oct’20

NF closed at day high with upside probe yet to be completed on last session.NF had a gap up around first probe zone upside at 12010 and could not sustain then gone for open auction..Failure to sustain above 12000 and push below 11950 was expected to test 11920-11910 zone.Then below 11910 probe was for 11870 VAL..NF probed 11930-11910 zone first then attempt to get back to IB range failed which lead to some balance then probed entire value area of prev session till 11870 and closed at dPOC.

NF still on one time frame up for 11th day.Sellers could not capitalise the trend down move in first session as they could not sustain below VAL and gone for close at dPOC.Sellers had advantage at close and above VWAP could get a squeeze.

NF partially accepted in prev gap zone 11970-12065 with value and but met with some pull back move. Not accepting above 12010, possible for another overlap/downside skew session to have small balance here to decide next move from this zone.

NF printed selling as well as buying tail. Key ref to focus next session for follow through.

Price wise, above 11950 could quickly move to 11975/12000 if accepts then 12030-12050 probe possible.

Failure to sustain 11970 could fall back to 11940/11910-11890 zone..

Weak below 11890 for 11865/11840 and quite weak below 11830 for 11780/11750.

If we get a open auction early in the session then looking for a balanced session for most of the day tomorrow..

Charts and data :

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

Notes :

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