Daily market summary for NF and charts, data for NF & BNF -18Jan’21

NF after stopping one time frame up move, has left a large selling tail and pushed down dPOC to 14460 by close on Friday. Skew was with sellers at close. 14490 was kept as resistance and below 14420 tail zone, probe was for 14290-14280..NF had a open drive down accepting below 14420 at open and gone for this 14280 probe in first session then turned in to balanced long liquidation profile..Later, move into tail zone got rejected and came down to day low to end up with small spike down for a close at low.

Auction pointers from the day :

Third day of one time frame down now with previous session and today's session having control via selling tail at open and closing at lowwe quad of the day.Today's low again pushed dPOC down by close and skew again with sellers.Its their job to push down further to get use of this skew holding below 14305-14320 zone.Above 14320 could become wild volatile moves in first session.

As mentioned under weekly observation and in conclusion of previous report, skew from Friday was for downside and 14280/14225 kept as good support for the week.Now, we have almost met this zone and again closed with skew down favoring sellers..Accepting below 14225 opens next round of liquidation move towards 14080/14050.This 14280/14225 is the zone marked for mean reversion so its sellers job tomorrow to sustain down to avoid buyers picking up for a mean reversion move.

Weekly has stopped one time frame up move of 3 weeks..We have nice balanced weekly profile upside and current week started with lower value today..It important for this to stay below 14400 roughly last week lower range to continue the momentum down else could make attempt to enter into prev balanced week.

Price wise, above 14310 could look for a test of 14340-14360 if sustains then 14385-14400 probe possible.Quite bullish above 14425 for 14460-14475/14500-14510.

Failing to sustain above 14300 and accepting below 14275 could move to 14240-14210 and quite weak below 14210 for 14180/14110-14080.

Charts and data :

Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members.

Notes :

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