Daily market summary of NF and charts, data of NF & BNF -28Mar'22

Excess of 23/03 got second day of PDL break and lower value overlap in last session..Observation was that supply from excess still in control..NF left tail at low and expected them to clear 17300 else another liquidation was expectation. NF opened around close price and had open drive down srtaight away to clear PDL in IB period then further moved to clear last week low also..Later could not sustain down below IBL after clean balance and had short squeeze to close at day high. Hypo D from 17150 to 17025 obj played out.

Pointers from today's session :

NF closed gap of 17/03 and reversed with secured low from that zone..Low is secured but context wise weak mechanical low at old gap zone and odds are there for revisit in ST.

It was neutral extreme up day with short squeeze + some buying effort..These buyers held on the extension at close and got dPOC skew with them at close..They need to go for open drive/gap to avoid repair of today's extension singles/lower balance.

Excess at 22/03 has closed the gap and still on 3rd day of one time frame down..Now, this NE day buyers should go for retesting excess at top and then get past it..Till then I see this low of today as weak on swing hence will be cautious on long side.We have just swiped last 6days composite low and bounced back into composite again..Buyers job is next to accept above 17265 to get 17350 zone then again accept there to get 17440 to retest excess zone..Once moves to 17350 should not come down below 17265 and once moves to 17440 should not come down below 17350 to keep the run steady higher..

Swing short below 17320 met 17025 obj now. Remaining obj 16950.Negation at 17320 now. Swing long can wait.Will update after tmw's session.

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.

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