Daily market summary of NF and charts, data of NF & BNF -13Jun'22

NF printed lower value day and closed below dVAL below 6+3days balance of June in last session..Observation was that auction was incomplete and gap down expected due to tight range management without demand. NF got a much higher than expected gap down and further gone for drive.Held lower value day all session then closed at dPOC.

It was large gap down + selling tail combo day and kept pressure all session for long liquidation. Again auction incomplete at low.

NF cleared May month low and marked low around March low.As mentioned in commentary weak low there for swing. Till that holds long bias risky.

Double print tail at low..Such double print tails around major visual ref zones hardly hold for a session or two then could be probed back.

Larger context last few sessions was that NF accepted well inside May lower disbn of DD profile hence weakness.Today it has fully probed that entire May lower distribution..Now, if we started accepting below 15635 then not much of support till 15510/15420-15400 swing wise. Upside 15825 and 15940-15980 strong res zones.

Under weekly observation mentioned that probe was for 15920-15880 then below 15850 probe is for 15750/15640 then 15400..NF the way it auctioned again today could complete this probe fully as long as no acceptance above 15940.

Charts & 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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