Daily market summary of NF and charts, data of NF & BNF -05Jan'23

NF had a long liquidation profile in last session. Above 18170 expected tail test towards 18220 and failing to sustain 18170 expected a drop back to 18085-18060 if sustains then 18020/17980/17950 expected. NF had a open auction which failed to sustain above 18170 and printed 18085 by IB then later started accepting below 18060 to get till 17965..Towards close bounced back to close below dPOC.

Another session of long liquidation and no reponse from buyers yet. They made a good attempt today around 18100 and failed badly.

NF left a poor value area today..Another open auction inside value area at open means we could look for repair of this value area.

18100-18120 pivot for next session.Staying below this looking for retest of 18010/17985 if sustains then 17940-17920/17865 possible.Not able to sustain below 17950 and back above 18000 could get 18040/18070/18100-18120 if sustains then 18170/18220 possible.

Swing wise 17950 expected after last session move with negation of 18250 and got 17965 today. Staying below 18120 could complete this move in next session. Back above 18120 we could go for testing upper range i.e, back in balance again.

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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