Daily market summary of NF and charts, data of NF & BNF -07Oct'21

NF had back to back imbalance days of up and down in last two sessions and last session had neutral extreme down day with spike close at low. Sellers expected to get get early follow through else two way balance in two days imbalance area was the bias today. NF opened way above last session spike and vwap of neutral session and started moving up with slow drive.

That expected balance below 17800 didnt take place instead it has gone higher to negate the FA at top from last session and probed well above PDH. Later, failed to sustain the upper distribution and came down to morning tail zone and then closed at dPOC. Above 17760 probe was for 17805 then above 17810 probe was for 17865. NF probed till 17880 today.

Pointers from today's auction :

Though overlap value auction today, NF clearly engulfed the large back to back imbalance area and built value higher today. For buyers its important to hold above 17780 in next session to continue upskew.. Failing to stay higher and creating value below 17780 could pull it down to repair last two days imbalance zone .

NF printed large buying tail today and its good ref to hold for next session.

Due to failed trend day, some anomalies in profile today.Failing to stay below in tail zone could go for repairing these anomalies in first session.

FA at top of previous session got negated but still could not stay higher above outside day range..Focus in next session again acceptance above this 17865-17880 zone to be more bullish..

17780-17760 good support band for next session. Holding this and accepting above 17810 could move to 17840/17865 and further bullish above 17875 for 17905/17945 if sustains then 17990/18020 probe possible.

Failing to stay above 17880 and back below 17820 could test 17790/17765 and weak below 17760 for 17730/17700/17660 if sustains then 17620-17600/17560/17530-17520 probe possible.

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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