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

NF ended up with higher value day with buyers in control in last session. To remain in control, expected them to defend value and look for move higher. And post balanced day, imbalance was expected next. NF opened around POC zone and gone for open rejection reverse move higher with large tail then imbalance move in first session.17860-17850 was marked as support which held and above 17890 probe was for 17945/17990-18020. NF gone for one time frame up move till 18060 then failed the trend day to close at dVAL.

Pointers from the day :

NF printed third day of one time frame up.

It has got extension now from 4 weeks of overlap.

Large buying tail at open which pushed for higher value all day.

Despite all the above bullish information,buyers failed to sustain the trend day but closed at dVAL..If buyers are weak, then they should give up tail of today with acceptance in coming session..Failing to do so, then weak longs got cleared towards close today hence price could be pushed back to wide POC zone at 18025 then could go for filling today's value where it has left poor value area.

If today's tail zone which got extension from overlap weeks is saved then becomes good swing support to look for next objective marked under weekly in last report..i.e, 18150 and higher..As mentioned in report,buyers managed to save that 17860 zone towards end of week and to remain bullish they were expected to get early follow through in the week which happned today..So, as long as today tail holds, could look for skew higher from here.If tail goes then it becomes wild chop with skew down.

17930-17950 support for next session. Holding this and moving above 17995 could get 18020 if sustains then 18050 probe. Above 18055 could move to 18080/18110/18150.

Failing to sustain above 17990 and breaking 17950 could test 17925/17900-17890 and weak 17890 for 17860/ 17830-17820/17790/17765 and quite weak below 17760 for 17730/17700/17660.

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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