Daily market summary of NF and charts, data of NF & BNF -27Oct'21

NF had a neutral extreme up day with spike close in last session.Balance in spike zone was considered bullish for later in the session today. 18270-18280 marked as good support. Move down if holds this band and accepting 18320 probe was marked for 18350. This happened in morning session and then gone for tight balance in spike zone.

But despite value in spike zone, NF could not clear spike high to move higher but gone for liquidation move in second session breaking IBL/spike low. Considered weak below 18250 for 18220-18210.This probe happened in the liquidation move and closed at low zone.

Pointers from the day :

NF left poor high at top at PDH also failed auction at top. FA over rules the poor high factor. This FA cleared yesterday spike low and negated entire buying auction of previous session and closed at low.Buyers lost control and they have to regain above 18290 and sustain to get back into auction.

Inside day and likely to get imbalance move for next session. Last 5days making nice balance and value of that composite is 18270-18150-18095. Balance rules apply.

Accept beyond value area = trend ;

Failing to sustain value area extreme = could revert to POC and then other end of value area.

Mentioned yesterday that 18210 was important zone for buyers to defend but they gave up today. Sellers who got neutral extreme auction today should sustain below 18290 and then extend below 18210 to get neat follow through. Failing to do so and accepting above 18290 could mark failure of today's neutral extreme auction.

For next session, 18270-18290 resistance zone. Failing to scale/sustain and back below 18230 could probe 18200-18190 and weak below 18180 for 18150-18135/18095-18080.

Quite weak below 18070 for 18040/18015/17980-17965/17930/17880-17865.

Above 18290 could move to 18320-18335/18365-18375 and quite bullish above 18385 for 18420/18445/18495.

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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