Daily market summary of NF and charts, data of NF & BNF -29Apr'22

NF left FA at low and got 3IB up move with double distribution profile on Thursday. Buyers ruled all day. Observation was that DD profile with such emotional move inside large balance could get repaired if they failed to sustain higher. VWAP of that neutral day if goes then expected fill of entire extension.

On Friday buyers were able to extend higher with value but failed to stay higher after extened grind and gone for IBL swipe and also swipe down on Thu neutral day vwap which lead to large liquidation to almost get FA of Thu.

It was neutral day and sellers had edge at close with neutral extreme close + dpoc brought down.

Negated entire upmove via DD profile of previous session.Balance or reversal down in next session based on this info.

Spike down into close. 17206-17085 = spike zone..Spike rules apply for next session.Stay in spike/stay below spike = weakness ; accepta above spike high = strength.

As mentioned in commentary, now we have got back to back imbalance days in same range..i.,e 3IB upmove on Thu then close to 3IB down day on Friday..So, immediate expectation is to look for balance in this back to back imbalance zone..Liquidation if we stay below 17080 FA zone towards 16935/16850-16800 then decide there at large balance range low zone.

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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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