Daily market summary of NF and charts, data of NF & BNF -10Feb'22

NF negated 07th supply profile in last session and closed with spike.Acceptance in such triple disbn disbn profile was observed as bullish auction and buyers expected to stay away from balance of last session to tick higher further..

NF opened higher with gap but then got open drive down which got rejected at VAH zone and then moved away from value. It remained higher all session as DD profile till close..Above 17490 expected probe was till 17550 then 17640..We opened higher above 17490 then gone down and then moved again above 17490 to get the move till 17650 then closed below dPOC..

Pointers from the day :

NF failed to stay below last session spike zone and gone for range extension and higher value day.

It was double distribution profile today..As mentioned in commentary, concern for long side is that upper disbn got much wider than lower disbn and could not extend higher but closed below dPOC..This is weak auction carried out by buyers..Only way for them to follow through is by gap or drive else odds are higher to test extn handle of the day and if that gives up then could drift down further towards day low zone..

Swing wise, 17600 final obj done today..Now, next leg above acceptance of 17650 for 17740/17900. Failing to scale/stay above 17650 and break of 17520 could get 17440/17300/17200 with 17650 negation swing wise.

Please refer below hypos for next session.

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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