Daily market summary of NF and charts, data of NF & BNF -03Mar'22

NF had inside day with poor value area in last session and buyers had edge at close..They got a clean gap up but could not sustain the gap and gone back to value area of nice balanced profile quick, which lead to repair of poor value area and also cleared that weak low at PDL. Hypo F played out from 16640 to 16450.

Pointers from today's auction :

NF left a clean large selling tail at top..Exhaustion from buyers/supply.

Outside day with clean double distribution down auction profile..Adding conviction that 16850 scale has to wait and balance / skew down could continue..

dPOC skew into lower distribution and sellers got edge at close..Holding extn handle, probe is for more downside towards 16350 zone.Clearing extension handle could invite overlap session.

On swing view mentioned in last report that any rally if we get to 16750-16840 zone, could face exhaustion/rejection to rotate down to 16650/16530/16450..This is fully done today..Now, holding below upper disbn of today, we could move down further to test buyers major support zone of current balance around 16350. If they sustain there then swing low 16250 swipe..If fails to sustain 16350 zone then could rotate back to 16550/16650 swing wise.

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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