After an inside day + DD trend up profile in the previous session, NF printed a balanced profile with an overlapping higher value today. NF got a gap up open above PDH but no demand at higher levels; it did mean reversion back into the previous session profile and did a complete value area swipe of a developing composite profile.
Normal variation down profile with poor value area + selling tail today. Second session two-way moves created a poor value area, and the closing hour up-move failed to bring dPOC (developing point of control) higher. Next session, any failure to sustain higher above VAH — 22030 and back into today’s value area or open inside today’s value means it will first repair that poor value area and then could get an imbalance move.
As per the higher time frame context, same view as mentioned in the previous report [Pic2]. Four-day Feb. 02–07 now a clean composite gaussian balance and tail at both extremes, i.e., a 3–1–3 profile. Wide POC at 21985 is pivot. A move higher above 22050 = selling tail test at 22150–165 and a move below 21900 = buying tail test at 21860–840. Any failure to sustain above 22050 or below 21900 attracts back to POC. No rejection, but acceptance at the tail means odds for a trending move towards that end.
Buyers have a slight advantage as per the structure, with a four-day clean balance above the composite short covering profile [Pic2]. Buyers should look for a higher value above the 22030–50 zone for a move towards ATH and more. Acceptance below 21900 composite VAL + no defence from buyers at 21840–820 buying tail zone this time can get some good liquidation towards 21755 / 21710 / 21680 / 21630.
