Daily market summary of NF and charts, data of NF & BNF -10Nov'22

NF left probable excess at top in last session and observation was weak close.Staying below 18170 expected liquidation towards 18070-18050.NF opened below spike low with gap and gone for liquidation today and probed tail zone of large composite below 18050 then closed at dPOC.

NF got gap down and selling tail and stopped 3days of one time frame up..7days in balance now. 18120-18140 pivot for this balance now..

With a move below 18170, NF confirmed excess at top in 18320-18365 zone.

NF had dPOC skew higher and closed there..Buyers need gap/drive else retest of day low.

Buyers for next session need to sustain above 18120-18140 to get gap close and test spike zone 18190/18250 and sustain further means test of selling tail/excess 18310-18340 zone..Further bullish if sustains 18340 for 18390/18440.

As mentioned in closing commentary, it was easy probe to get 18010 swipe today for the excess made at top but NF failed to get that done.So, odds are there for mean reversion move into 7days balance.

NF swing view suggested that neutral with view of moving to 18050 first then bounce back to 18190/18240/18290/18340.. NF held around this 18050 today.If this gives bounce back above 18250 then swing long can try with negation of 18100 for 18340/18440/18565.

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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