Daily market summary of NF and charts, data of NF & BNF -01Nov'22

NF had a narrow range lower volume session yesterday..Value above 18100 with volume they needed for fresh leg..Another gap up day above 18100 and gone for two way auction with higher value closing at dVAH.

6th day of one time frame up.

Another gap up and gap remained unfilled. back to back gap days now.

Quite a weak and poor low today with triple print buying tail.Such refs suggesting emotional ST push happening and reversal/balance possible.

Poor high too and auction incomplete at top.

Today's two way auction in a narrow range day suggesting good wild range day possible next.

Context wise neutral day and likely to start fresh move from here..Either reversal or balance..

Buyers for next session should defend 18150-18170 and sustain higher above PDH to move higher and once done never should come back to value area..If comes back then repair of poor value area left today (quite a anomaly structure today in profile)..Weak below 18150 for liquidation to close gap and move further down.

Swing view same..Not recommended for long with again weak ref adding up today..Since we moved higher above 18100 today, if no big pullback atleast could go for time correction i.e, balance so swing long view can wait.

Charts and data :

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