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Daily market summary of NF and charts, data of NF & BNF -08Sep'22

Writer's picture: RKRK

NF had a poor structure double distribution profile with advantage buyers at close in last session with dPOC skew. They were next expected to defend upper disbn all session if want to get higher follow through..Today they have gone for gap and drive then later the dip defended the gap and gone for clearing IBH to close higher..


Buyers had one of comfortable close today with following auction nuances.


Gap remained and rejected the move down to leave failed auction at low + Buying tail + Neutral extreme up close with spike + closing above dVAH of 7 days of composite balance..They should now get a move away from this 7days balance next..


Two zones to look for defense and bounce if price comes down early in next session..17760 then 17720 to rotate price higher towards PDH and then get value higher all session..Quite weak if accepts below 17720 which could create pressure to push back into composite in making.Today's move ditched down that poor structure profile so buyers job is not to test that profile again but look for ST move higher and then come back later for repair.


Swing move is now for 17890-17940 band if sustains then 18100 as long as staying above 17720. Once moves above 17860 negation can be moved to 17760. Swing short below 17720 for 17660/17610/17530/17440 with negation of 17810. Once moves to 17660 negation can be moved to 17760.


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 :

a) Check glossary page in website if any of the terms used in the post are not clear.


b) If images are not clear, click on them for enlarged view.

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