Daily market summary for NF and charts, data of NF & BNF -12Apr'21

NF got FA follow through lower value day in previous session. Sellers had skew at close.NF had a bookish bell balance auction in previous session and was expected to deliver imbalance auction in next session. NF today got a clean gap down which was followed by open drive down which lead to all day long liquidation via double disbn profile.

Pointers from the day :

NF had a clean gap down and large tail. Likely to hold this imbalance zone and unlikely to see reversal in this imbalance zone quick. Any retest could find strong resistance.

Outside week of NF resolved down side and holding below 14500-14600 auction to remain with downside skew.

It was double disbn profile clearing last week low and took mechanical support around last swing low zone. Volume was on higher side than average today and liquidation pressure to remain with this volume and weak low.

Holding below 14360-14380 probe is for 14260/14220 if sustains then 14150 probe possible.. 14150-14220 zone could offer some nice bounce if we get there..If sustains 14150 then probe is for 14065/14020/13960.

Above 14380 could get 14420-14440 if sustains then 14480/14510-14530 probe possible..If fails to hold above 14530 then could drop back to 14450/14410/14380-14360/14300-14260.

Above 14550 could get 14580-14610 if sustains 14640/14680 possible.

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.

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