NF Weekly Profile (14th to 20th Oct 2022)
17540 [ 17599 / 17100 ]
- Friday: NF opened the week with a big gap up of 290 points and tagged the 07th Oct VPOC of 17329 in the IB and even made couple of REs (Range Extension) to the upside but could only manage similar highs near 17367 indicating exhaustion which triggered a long liquidation break for the rest of the day as it left an extension handle at 17262 & went down to 17175 stalling just above previous week’s Value leaving a Neutral Extreme (NeuX) Day Down
- Monday: The auction gave a rare follow through to Friday’s NeuX profile with a lower open inside previus week’s Value & right at the Gap mid-point of 17155 and tagging the weekly POC of 17107 while making a low of 17100 where it left an initiative buying tail indicating return of fresh & aggressive demand who then left couple of extension handles at 17190 & 17223 to get back into Friday’s Value filling up the NeuX zone and forming a ‘p’ shape profile for the day with completely inside Value & a prominent overlapping 2-day POC at 17285
- Tuesday: saw a move away from the 2-day POC with another gap up of 143 points but settled down into an OAOR forming a very narrow 107 point Normal Day after the dreaded C side extension to 17538 stalled the upside leaving another ultra prominent POC at 17496 which had all the 13 TPOs aligned
- Wednesday:started with an attempt to move away from 17496 as it made new highs for the week at 17585 in the IB but for the second consecutive day, the dreaded C side extension to 17599 resulted in the high being marked as NF got back to the magnetic POC of 17496 and in the process confirmed a FA (Failed Auction) at top leaving the second NeuX Day of the week
- Thursday: This NeuX also got a follow through as the auction opened lower & went on to complete the 1 ATR objective of 17385 to the dot but could not extend further resulting in a probe back first to the 2-day overlapping POC of 17500 and then in a late spike went on to tag 17560 testing the SOC (Scene Of Crime) of Wednesday
The weekly profile is a Neutral Extreme one to the upside but also resembles a Double Distribution with completely higher Value at 17424-17496-17595 which is mainly the last 3 days composite and is separated from the lower distibution which has the HVN at 17285 by a low volume zone from 17424 to 17334. NF has also confirmed a FA at 17100 on the weekly timeframe and the 1 ATR target of the same comes to 17617 which will be the immediate reference on the upside for the coming session(s) with this week’s VWAP of 17394 being a positional support going forward.
BNF Weekly Profile (14th to 20th Oct 2022)
40205 [ 40668 / 39223 ]
- Friday: BNF made the expected move away from previous week’s Gaussian Curve with a huge gap up open of 761 points but settled down into an OAOR after tagging the 06th Oct VPOC of 39555 to form a narrow 357 point range Neutral Day and a well balanced Bell Profile with a prominent POC at 39504
- Monday: The auction made an attempt to move away from Friday’s balance to the downside at open as it made new lows for the week at 39224 but was swiftly rejected from previous week’s Value resulting in a trending 496 point move higher in the IB where it left an initiative buying tail till 39441 along with an extension handle at 39592 to get above PDH and formed a nice balance for the rest of the day leaving a ‘p’ shape profile for the day with a prominent POC at 39804 & a spike from 39947 to 40045 & also confrimed a FA on the weekly timeframe at 39224
- Tuesday:saw the continuation of the upside imbalance with another big gap up of 324 points but once again settled into an OAOR forming a mere 283 point range Normal Day as it formed Value in the A period Selling Singles from 23rd Sep getting stalled right at those single’s mid-point of 40495 leaving similar highs before closing the day right at the prominent POC of 40380
- Wednesday: began with another higher open as BNF probed above the Daily Extension Handle of 40591 & hit 40651 in the A period looking on course to complete the 1 ATR objective of 40725 from this week’s FA but made the dreaded C side extension to 40668 which was swiftly rejected marking the end of the upside for the week as it confirmed a daily FA there forming a Neutral Day where it made a low of 40245 taking support in Tuesday’s buying tail & closing around the dPOC of 40422
- Thursday: The auction made a lower open & went on to complete the 1 ATR obective of 40001 from the FA of 40668 and in the IB & even tested Monday’s Spike low of 39947 while making a RE lower to 39903 in the D period but could not extend further with the September VWAP of 39910 holding and was forming a ‘b’ shape profile for most part of the day before a short covering squeeze from the K TPO resulted in marginal new highs of 40259 & the third Neutral Day of the week
The weekly profile as expected is an elongated one of 1445 points which trended to the upside after that rejection at lows right from previous week’s Value where it confirmed a FA at 39224 on the higher timerframe and has formed completely higher Value at 39637-40375-40627 with the upside being capped by another FA at 40668 this time on the daily timeframe which will be the reference to watch on the upside above Thursday’s VPOC of 40422 where as on the downside, this week’s VWAP of 39968 along with Monday’s VPOC of 39804 will be the levels to watch in the coming week.
