Daily market summary of NF and charts, data of NF & BNF -23Apr'21

NF printed multi distribution trend day with excess tail at low in previous session with dPOC skew at higher quad. Observation after such profile was that clean further follow through lesser chance and mean reversion possible. POC was kept as ref for squeeze and once done said that it should not accept back below POC. NF tried to clear 14340 support at open auction but could not sustain and gone for squeeze above POC to clear PDH.

But later could not sustain higher and acceptance back into multi disbn profile below POC gone for entire value area probe. Failing to sustain above 14450 and back below 14400 expected to probe 14300-14280/14250-14230 and NF probed till 14265 VAL and closed around dPOC.

Pointers from the day :

Emotional run happened on 22nd with multi disbn profile is now repaired..Now, 20th down trend day and 22nd up trend day both got repaired..Such back to back repair of trend days usually calls for more balance for few sessions.

NF had a neutral day auction clearing initial balance extreme both sides..Though we had dPOC skew down at dVAL for close, with inventory not much of supply seen. 14360-14380 ref upside for this dPOC skew for sellers to look for downside move by clearing 14290. Acceptance of 14360-14380 band could push NF higher.

NF left a poor value area. Failing to sustain beyond previous day range and acceptance in value area could go for repair of value area.

Swing wise 14450 kept as ref for more downside and it got tested but could not get follow through..Same ref again to look for downside imbalance.If we get 14450 once again then more of balance to happen.

For next session price wise, above 14375 could get 14415/14440-14465/14490-14510 probe possible.

Failing to sustain below 14265 and back above 14325 could get 14360-14375/14415/14440-14465.

Failing to sustain above 14380 could test 14340/14300 and weak below 14290 for 14260-14230 and quite weak below 14210 for 14160/14100/14060/14020/13960.

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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 via private blog.

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