Daily market summary for NF and charts,data for NF & BNF -22Oct’20

Green tickz
Oct 22, 2020
2 min read

After a 3IB down day and outside day auction on Wednesday, following were the expectation from yesterday report for the session today.

a) As we are in the balanced market, post outside day it was expected to fill the outside day range via two way auction.Suggested to play with small size on that quick two way moves.

b) 3IB down day – Inventory stretched that too covering entire range of last 3 sessions..Hence, probable outcome was balanced session next.

c) Observation was that no one gone home as winner on close hence more fight for inventory control was expected to take place.

NF established auction in similar lines and ended as balanced profile with two way auction.Failing to sustain 11950 was expected to have auction between 11950-11900-11820. And this was the range today roughly and close was expected in 11900-11930 zone and it settled at 11900.

Following are the clues from today's auction :

NF printed FA at top and got secured low with tail and ended as neutral center day i.e, clearing IB both side and closing at dPOC zone.Clearing the secured end could get follow through move tomorrow.

NF closed imbalance zone of yesterday with value and close is above dPOC..Slight edge with buyers and if they could clear FA at top then could close extn singles at top till 11975-11995 then also could clear poor high at 12015.

NF printed anomaly around 11900 today..Another inside value open with no follow through and poor volume means could go for smoothening this zone in first session.

Double print tail at 11820 zone defended today and this 11820-11800 is good support now.If today's FA at top clears that tail zone then its quite weak to travel down for new weekly low.

As the weekly range is smaller so far with skewed dPOC of week around 11890, likely to have one more volatile session to close the week.

Charts and data :