Daily market summary of NF and charts, data of NF & BNF -12Nov'21

Clean long liquidation profile from NF on Thursday. 3rd day of one time frame down via long liquidation profiles considered weakening structure for shorts.If sellers failed to strike early then expected bounce back to mean zone 17950. NF opened in this zone.Other observations were that buyers to get strength expected to build balance in selling tail zone of 11th and 17970-18010 zone considered strong resistance which expected to resist straight rally and expected balance before rally.

NF after opening in 17950 followed this path of going for creating value in tail zone resisting 18010 zone in first session.Considered bullish above 18020 for 18075/18100/18150. After balance in first session, NF gone for this entire probe above 18020 till 18160 then closed at high zone.

Pointers from the day :

NF had failed auction at low.

It was neutral extreme auction with double distribution profile.

3 days of one time frame down stopped and closed at weekly high zone.

All above indicating buyers control all day and they closed with advantage at close. Buyers have to defend upper distribution and should look for follow through higher in next session.Failing to sustain above upper distribution and accepting in extension singles could go for closing them by testing extension handle zone.

18090-18070 support zone for next session.Failing to scale below and staying above 18125 could get 18165 and bullish above it for 18190-18210.Further bullish above 18220 for 18245-18265 if sustains then 18295/18320-18335/18365-18375 probe possible.

Weak below 18070 for 18045/18020 and quite weak below 18005 for 17980/17955-945/17920 if sustains below 17900 then 17860/17835-17820 probe possible.

Charts :

Daily

Weekly

Monthly

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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