Daily market summary of NF and charts, data of NF & BNF -11Jan'22

NF negated FA at 17945 and ended up with spike in last session. NF today made attempt to stay lower from spike low but could not sustain and moved higher with value then closed above dPOC. Failed to stay above 18070 and move below 18010 expected to probe 17985 and lower.This got whipped with a move only till 17995 then bounced higher and remained as neutral day till close.

Pointers from the day :

NF printed 3rd day of one time frame up. Buyers still in control and holding up.

Neutral day i.e, probe beyond IB extreme at both ends. Also got failed auction at low. This FA now swing support for buyers.

With poor structure underneath expected sluggish move only if buyers wanted to probe swing obj 18100-18150 zone. Today is another poor value area session with all through the day choppy auction to reach this zone. Next attempt for buyers if they want to sail higher is to have initiative auction above 18120 and build value higher to move to next swing obj zone 18220/18350 and negation for them is 18005 for this move.

Only two way this auction could unfold from here for next 1-2 sessions..Ignore all poor structure of last 300 points and get sharp fresh leg with value above 18120 for 18220/18350+ quick or end of the move here and get quick liquidation move down to clear last two/three sesssion poor structure.

For next session, failing to stay below 18035 and back above 18065 could test 18090/18125 and further bullish above 18145 for 18170-18190/18225/18265.

If fails to stay above 18095 and moves below 18065 could test 18035/18005-17995 and weak below 17985 for 17950/17905-17885 if sustains then 17850-17835 possible. Further weak below 17825 for 17800-17790 if sustains then 17755/17725-17710 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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