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

NF had a normal day in last session..18320 printed solid wide POC zone.Buyers expected to hold that to move higher else considered weak below that.NF had a gap up and failed to sustain gap and the drop got saved at 18320 then all day resulted in bell balance then closed at dPOC.

Back to back bell balance + 3days of low volume auction roughly in 120 pointer range + 4days of composite short covering P profile+ 8 days of composite with upper quad skewing wider. As said yday, with this structure upside rally is difficult which got proved again today with gap up failing to hold and just spent in narrow range auction.

FA at top and neurtal day today..

Buyers need a drive with volume holding 18320 else again overlap and back to test large tail zone 18240/18200/18130-18110 staying below 18320.

Levels wise for next session, failing to stay below 18310 and move above 18345 could get 18380 and drive above that good for 18410/18440. Failing to stay above 18380 and move below 18350 could get 18320 and weak below that for 18290/18250-18240/18210-1895/18165.

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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