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

NF left FA at low and closed as neutral extreme up profile in last session..Buyers expected to get drive or gap else below 17060 expected move back to 16985 if sustains then more liquidation expected..Buyers failed to get upmove and stated accepting below 17060 right at open today which got the liquidation with PDL swipe at 16950 then bounced to test morning tail, which failed and gone for close above dPOC.

NF left one of weakest low yesterday at spike low with FA which suggested risk was with long side..That FA and weak low got cleared today and brought a double print tail now there. Again not a clean swing low.

5th day of one time frame down closed above dPOC..16980 ref for buyers tomorrow..Failing to hold, could get next round of liquidation.

This is the closing commentary today.

Last two/three sessions auction with many whips suggesting more downside to unfold staying below 17120.. Weekly and monthly marking lower value and daily in one time frame down too..We got accepted enough in July spike zone hence more downside towards July value area possible here. Yesterday in report mentioned that, if that NE up day beocmes whip then bigger move downside in coming sessions.Expecting this to unfold from here. View negates with acceptance above 17120 which could get sharp rally higher.

Swing long view negated at 17020 today and triggered short view there and met first obj 16950. Remaining obj are 16850-16820/16760/16650/16520. Negation same 17120. Again swing long above 17120 with 16950 negation straight to 17220/17290/17350. This 16950 is one of solid pivot zone capable of swinging NF clean 400-500 points one way.

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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