Daily market summary of NF and charts, data of NF & BNF -02Jan'23

3IB down day with selling tail and low was weak right at VWAP of NE day with spike down close in last session. Staying below 18290 expectation was to get 18120 today. NF had a open below spike high zone and repaired weak low at PDL then could not sustain and get the probe as expected.It started accepting above spike and later push down got rejected at morning buying tail then pushed higher to close at dVAH.

Short covering profile with buying tail at low and close at dVAH..Advantage buyers at close and they better get gap or drive to move away from this P profile early in the session..

18290 said in last report good resistance and we got tagged that today with good close..So, buyers job next to start accepting higher further.

Last session spike got rejected and created value higher above spike zone hence another confirmation auction is with buyers EOD.

Levels wise, 18250 worst case 18220 buyers should defend next session at open and then start moving higher above 18290 to get 18330-18350 if sustains then 18390/18420/18450 possible.Failing to sustain higher above 18330-18350 band and back below 18280 could move towards 18250/18220 and starts accepting there means weak towards 18180-18170/18130-18120/18090/18060.

Swing wise maintaining same neutral view..

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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