Daily market summary of NF and charts, data of NF & BNF -10Jan'23

NF had a clean short covering profile in last session after 3days of liquidation.Buyers next needed gap/drive else expectation was to move back in value area then test tail at low. NF failed to sustain above POC of P profile and from start got slow drive down to buying tail of last session. Later,comfortably accepted in that tail to get liquidation further below PDL then closed at dPOC.

Trend day in first session which turned into long liquidation profile. Sellers now need drive/gap down for more liquidation else could revert to mean again to repair poor value area left today.

Clearing yday open drive buying tail which had volume, confirms weakness.Swing wise,18200-18240 now solid wall of worry for buyers..Unless they accept above this, looking for new swing low and more liquidation downside.Max another session or two then this could move away from this balance.

For next session, not able to sustain above 17990-18010 could drop to PDL zone if sustains then 17875/17820/17775/17750 possible. Above 18010 could get 18050-18070/18120-18140/18180

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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