Daily market summary of NF and charts, data of NF & BNF -02Mar'22

NF had outside day + poor structure triple distribution emotional run up with spike close in last session. Observation from many aspects was that rally higher lesser odds and repair back till 16580/16450 required. NF opened below upper disbn zone of last session today and could not scale it which lead to liquidation from stuck longs from that disbn+spike of last session. NF probed till 16470 to repair last session poor structure and then bounced to close at dVAH.

Pointers from today's session :

It was inside day with tail at top.Not much of commitment.

Clean balanced profile with poor value area. Overlap and repair higher odds in next session if no gap.

Low not secured today..Likely to be cleared in coming sessions.

Buyers had edge at close around dVAH..they need to defend 16550-16570 in next session to move higher towards 16700/16750 else overlap/skew down possible.

NF negated entire buying strength of triple disbn profile from last session..That expected balance is going on in the 24/25th back to back imbalance zones. With current balance, its highly difficult task for rally higher above 16850 via intra auction..If they need to get that done then its possible only via gap..So, expecting this balance below 16850 or skew down to continue further.Any rally if we get to 16750-16840 zone, swing wise could face exhaustion/rejection to rotate down to 16650/16530/16450..

Kindly refer table below for tradeable hypos for next session.

Charts and data :

Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.

Notes :

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