Daily market summary of NF and charts, data of NF & BNF -06Apr'22

NF had a long liquidation b profile in last session..Observation was that close was weak as per inventory and they are looking for more probe downside. NF had a clean gap down today then spent all day in making lower value holding gap and closed below dPOC.. Range was not in any hypos zone except morning move played out second part of Hypo D from 17900 to 17850 swipe.

Pointers from today's auction :

NF had a gap down from that inventory shift yesterday and all day they held the auction..

Upmove rejected with failed auction at top which pushed for close below dPOC..As mentioned in closing remarks, another weak close with long liquidation profile with FA at top now..And, todays low mechanical which likely to give up for another liquidation move.

Neutral day auction today i.e., swipe of IB range at both ends..VWAP becomes ref for next session..Holding below 17875-17890 band sellers should seek for downside further..Above 17890 we could have retest of today's high zone retest if accepts then rally higher possible.

Have been mentioning after 04/04 trend day that risk was with long side till we get retest/fill below 17925.We have now seen two back to back long liquidation days and gone well below 17925.Today got clean value in tail zone with poor low which is another sign of weakness so downside move not yet over..Swing wise holding today FA zone, downside opened up till 17700-17650 zone..Above this FA zone acceptance rally back to 18050-18100 possible.

Charts,data & Hypos :

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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