Daily market summary of NF and charts, data of NF & BNF -11Nov'21

NF had a auction yesterday with a profile of poor value area and anomalies all over. Expectation was to get a repair of most of profile if we open inside range.Buyers expected to hold 17980-17990 zone else retest of day low expected. NF opened below this support zone and gone for open drive down to test day low and further.

Mentioned that violating 17950 expected to get 17860/17820 before any bounce.NF probed till 17823 via ABC extension then bounced and remained as long liquidation profile all day (getting sold on every rise) to close at dVAH.

Pointers from the day :

Clean long liquidation profile.Break of low zone could lead to another long liquidation day..Buyers for strength need to rotate in tail zone and then build value higher.

3rd day of one time frame down but mostly via long liquidation which is weakening structure for shorts. Sellers if committed need to strike earlier else could bounce to mean zone around 17950 as mentioned in commentary and then could create some balance.

17970-18010 zone now becomes strong resistance and smooth sail above this band tough..If we get to this zone could rotate a lot to build value before any rally.

17880-17890 support zone for next session.Failing to stay below this and acceptance of 17910 could get 17940-17965 if sustains then 17995-18010 probe possible. Bullish above 18020 for 18045-18075/18100/18135-18160.

Failing to stay below 17820 and back above 17865 could get 17900-17910.

Failing to sustain above 17940 could test 17890 if accepts then 17865 possible and weak below 17860 for 17835-17820 and quite weak below 17790 for 17765-17750/17720-17680.

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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