Daily market summary of NF and charts, data of NF & BNF -11Jul'23

NF left FA top then had neutral center day in last session. If they wanted to maintain bell composite then expected to remain below 19460-19480. If that goes means expected a test towards 19540 and above. Marked probe of 19540/19570 above 19510. NF gone for drive above 19460-19480 band early in the day and tagged till 19560 then remained as P profile to close at dPOC.

Large buying tail and short covering profile.

FA of last session at 19480 negated.

Buyers next need to clear this P by drive or better get gap higher for a clean move higher. Failing to do so and acceptance in buying tail leads to sm liquidation and continuing balance.

Levels wise for next session, move above 19525 early in the session could test tail at 19550 if sustains 19575/19605-19615 possible..Above 19620 could move towards 19650-19665/19690. Any test in buying tail downside fails to sustain below 19460 and moves higher above 19495 means possible to get 19525/19550/19575/19605-19615. Weak below 19480 for 19455-19445 if sustains 19420/19390 possible and more weakness below 19380 for 19345-19335/19305.

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.

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