Trading Room Plan 17th April

The NF finished a DD day and the BNF trended lower after a good start to finish at the lows.


The profiles continue to show value being created lower even as the UP auction is stalled as it is not functioning above VAH of the previous session.




The DD in NF took it to the 6692 expected in yesterday’s post as the market broke the lows of the previous day.


For tomorrow the NF will find at the top of the lower DD near 6728 and possibly 6735.


The objective lower continues to be 6646 and shorts can be added below 6692.


However a cross of 6642 will put it in the upper distribution again where it can quickly rise to 6770/75 and longs can be traded above 6742 with a sl at 6725 for the mentioned targets.




In BNF the seller held the 12750 levels mentioned yesterday and we saw a test of 12550 again once the auction moved below 12680.


The level of 12682 is again important for tomorrow and likely to keep the auction down below it.


12520- 12550 has shown good buyers previously but every new touch of the level carries a potential to reduce buying interest of the TF buying there.


Hence if liquidation happens below 12500 then BNF can fall to 12230 quickly.


The Buyers at 12550 will look to 12617 and 12682 as 2 resistances to conquer tomorrow.