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

NF had secured but weak low and closed with dPOC skew higher in last session..To avoid repair of yday extension singles, buyers expected to get drive or gap. They had a gap open today but did nothing all session than building value higher and move below PDL rejected to get spike higher into close finally.. Auction was not within any hypos planned for the day.

Pointers from the day :

NF had yday weak low move up with large extension singles which got justified today by bringing value higher with clean bell balance.Buyers of last session defended on the move down with FA at low and closed higher..This FA came from composite POC zone hence becomes swing support now.

It was neurtal extreme day with both IBH and IBL breached and then had spike close..Spike zone and VWAP ref for next session..Buyers of this day should hold them next session to get follow through higher.Liquidation below VWAP of this day.

Buyers had edge with spike so gap/drive without accepting below spike could be better for them..Spike rules for next session. 17365-17390 spike and holding above = strength ; below = weak.

One time frame down of 3 days stopped today. With low swipe of 17050 and back in composite, buyers next expected to get 17350 zone then again acceptance above 17350 needed to get 17440 to retest excess zone..They got 17350 today and closed higher above it with spike. As mentioned yday, once moves above 17350 negation becomes 17265 and we got FA also there now..So, next move of 17440+ buyers should seek now..Once moves above 17440 negation moves to 17350.

Swing short now below 17265 for 17150/17025 with negation of 17360 or fails above 17440 and moves below 17350 means then probe is for 17265/17150/17025. Existing swing short after meeting 17025 got negated today with a move above 17320.

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 :

a) Check glossary page in website if any of the terms used in the post are not clear.

b) If images are not clear, click on them for enlarged view.