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

NF had a large gap and cleared excess at top. Balance view negated and fresh leg of upmove started away from composite 3-1-3 of 7days balance now.

Held the gap all session after morning drive and then closed at high. Auction incomplete at close.

High volume and wide POC day which resolved for higher close after tight auction hence becomes good support for next session.

NF cleared current year high.

All info bullish to seek further higher move. 18400-18410 support for next session to look for 18490/18540-18565/18590.Weak below 18400 to test buying tail and sustains there means more weakness to travel in the gap.

NF swing view marked for 18340/18440/18565 above 18250..Had a gap abvoe 18250 and doing this probe now. Negation at 18220 for this view now.

Weekly :

Ended as multi distribution profile with dPOC skew higher into close of the week.18340-18370 pivot of the week.Staying above this probe is for 18565/18595 then pullback possible which should defend above said pivot.Weak below 18340 for 18280/18240-18220 and thats solid support to bounce back higher.

Quite weak below 18220 for 18150 and closing this gap calls for large reversal to start with 18050/17985/17850 with negation at 18320.

Above 18595 could get 18650-18690 then pullback possible.If sustains higher above 18690 then 18790/18900 possible.

Monthly :

3months composite balance now getting range extension higher in Nov after first few days got clean balance at start of month..Possible for double/triple distribution month in Nov..18150 now support for this view to move towards 18565/18650-18690/18790/18900. Any exhaustion higher and breaks 18150 means possible to test 18000 zone and below that solid reversal for monthly.

Charts :

Daily

Weekly

Monthly

Data :

Notes :

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