Daily market summary of NF and charts, data of NF & BNF -16Mar'22

NF negated triple distribution trend day auction with outside day in last session and observation was end of buyers move as long as we dont accept above outside day with value.. And back to back imbalance days suggested balance next.. NF proved both observation wrong and opened higher around PDH and cleared PDH early in the session..Later all day they managed to have higher value above yday POC and ended up with spike higher..

Auction recap :

Today was one of sharp turn of rare price auction..After a outside day with close below dVAL after negating previous 3IB up trend day, very next morning clear above such outside day and then closed higher.Sign of strength from buyers.They emerged as winners with FA at low and then spike up close..This FA becomes swing support now.

Outside day accepted with value higher.

Spike rules for next session. 16979-17028 spike zone. Stay in spike/above spike = bullish ; below spike low = weak.

NF entered into Feb value area which was balanced month..Holding this spike, swing wise buyers could look for probe of Feb value zone.

16950 negation for swing sell got cleared today..As mentioned yday in report as well as in commentary, today's auction above 16950 opened up swing obj next towards 17150/17300-17350/17500 and negation now 16850 for the same.Once 17300-17350 probed negation could move to 16950. Below 16850 could go for 16650/16450/16250/16050.

Charts,data & Hypos :

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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