Daily market summary of NF and charts, data of NF & BNF -21Nov'22

NF had a clean long liquidation auction in last session and as long as no acceptance above that profile expectation was to look for overlap to downskew..Buyers if not defending 18300-18320 then expected PDL and liquiadtion below that. NF got open drive down from 18300 to clear PDL and probed 100 down from PDL then closed at dPOC.

Back to back long liquidation days and today's auction left large A tail..This large tail now got zones to be filled back i.e, fair auction required in this tail zone.Shorts are risky till this tail holds without repair.

That FA from top 18495 done the job of 18220 test as well as gap at 18150..Low is not clean for swing with the way intra it got printed in shakeout..Need a proper auction around there.If not quick might happen in coming sessions repair of this low printed today.

3rd day of one time frame down and today auction of tight range after back to back b profiles suggesting not much of supply to push this down..So, possible we could have minus development back in last two days range by not accepting below today's b profile.

With current structure on daily and weekly, my expectation is max 18050 zone if we move down from here if we accept below 18150 then we could look for few sessions to fill between existing range of November.

Volume again lower today similar to last week. As mentioned in weekly column in last report, higher odds that we are going to continue with auction of dead grind narrow range days for the coming sessions.

Buyers for next session should sustain higher above 18210 to get 18240/18270/18315 if sustains then 18350+ possible..Failing to sustain above 18270 could drop back to 18200 and weak below that for 18160/18120/18060 probe.

Swing short triggered at 18410 met final probe zone 18220 and below today..18190 weekly pivot zone marked today got cleared but not getting fruitful result despite having good value below it..So, swing short view now fully closed and looking for two way auction now..18050-18270-18350-18420 zone roughly now to look for fill.Will draw swing view after couple of sessions.

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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