Daily market summary of NF and charts, data of NF & BNF -17Nov'21

NF cleared 12th extension singles and entered into lower distribution of that day in last session and ended with minor spike down. If sellers are committed then expected them to get early follow through to that 12th FA zone at 17920.

NF had a clean gap down around this FA zone but could not sustain down there. It had a open test drive up towards 18030 then met with exhaustion there. Failing to sustain above 18030 and back below 17990 probe was for 17965-945/17920 which happened all day in a sluggish auction then closed with another minor spike down at low.

Pointers from today's auction :

2nd day of one time frame down and buyers failed second day not able to sustain the upper quad auction and closed at lows.

Neutral extreme day with minor spike down close..Same as yesterday observation.Post such neutral day auction, sellers need to get quick follow through down holding below 17930-17940 zone which resistance tmw. Failing to do so, could go for repairing poor value area/anomalies left today due to last hour move down.

12th FA taken out today and next support zone 17820-17830..If buyers next respond from this zone then could see mean reversion back to 17970 zone and higher..Failing to get buyers and rotating below 17820 with value calls for next large liquidation down.

For next session, 17930-17940 res zone.. Failing to stay above and back below 17900 could get 17860/17835-17820..Quite weak below 17790 for 17765-17750/17720-17680.

If fails to sustain below 17860 and back above 17925 could get 17950/17975-17990.Bullish above 17995 for 18015/18040-18050. Quite bullish above 18075 for 18115/18140/18170-18190.

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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