Daily market summary of NF and charts, data of NF & BNF -04Mar'22

NF left a clean large selling tail suggesting exhaustion from buyers/supply and had a double distribution down day with dPOC skew + outside day on Thursday. Expectation was for more downside holding extn handle of the day. NF had a gap down and clean follow through down on Friday in first session. Then could not sustain below IBL and gone higher to close gap by clearing IBH..Could not sustain in Thursday DD lower distribution and came down to close at dPOC.

Pointers from the day :

NF had neutral day by clearing IBL and IBH..Close had edge again with sellers with dPOC skew + close below vwap and holding that looking for more downside.

Outside day followed up by clean lower value day clearing Feb month low.Quite weak.

As mentioned in commentary, swing low not yet done with this 16152 low..Not a clean low for swing in smaller time frame charts..This break of 16250 has opened up 15950 probe for swing holding below 16450 now.

Failing to sustain below buying tail of the day could go for overlap session to repair poor value area of the day..Second half auction by clearing IBH but failing and coming down to close at dPOC has left poor value area.

For next session hypos, kindly refer the plan below.

Charts :

Daily

Weekly

Monthly :

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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