Daily market summary of NF and charts, data of NF & BNF -09Nov'21

NF had double distribution up day with dPOC skew into close in last session.Observation was that buyers had edge at close and they were expected to hold upper disbn of last session and look higher above PDH. Failing to do so and accepting below upper distribution expected to close extension handles left in yday profile.

NF opened around POC zone and could not sustain higher then gone for accepting below upper disbn of yesterday via open rejection reverse..Below 18100 considered weak for 18075/18045/18020..NF via sluggish auction done this probe and closed both extension handles from previous session. Below 18010 considered quite weak for 17970 and below, which could not materialise and NF bounced to close at dPOC.

Pointers from today's auction :

NF printed inside day and nice gaussian profile balance auction today. Could lead to imbalance session next.

It has closed both extension handles and extension singles from last session.Not a good sign for buyers of yesterday.Will give another session to check their strength.If today's tail gives up, then could go for probing lower distribution of yesterday's session. If not able to sustain below today's tail and started accepting in value area, then could remain bullish for rest of the session.

We had good buying effort from last session and today most of it got neutralised data wise. 17950 now swing support to look higher.. If this gives up then back to 17850/17750 zone. Am expecting this 17950-18000 zone to hold to get a move higher towards 18150 once again if sustains then further upside.

For next session, above 18110 could get 18135/18160/18190-18210 if sustains then 18240/18270-18285.

Failing to sustain below 18000 and back above 18070 could get 18110/18135/18160.

Failing to sustain above 18100 and back below 18060 could test 18035 and weak below 18035 for 18010 and quite weak below 18005 for 17980/17950/17920/17880-17860.

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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