Daily market summary of NF and charts, data of NF & BNF -13Jul'23

NF left inside day with lower volume in last session.Not seen supply at close.Above 19515 expected squeeze for next session towards 19575/19605-19620/19650. NF got this move in IB itself to mark 19614 as high then had a tight 4hrs balance with poor high then triggered solid liqudiation to close the index below dVAL.

New ATH but solid poor high top. As long as this poor high not clearing 19300 odds of this high to be cleared is higher..If this poor high holds and clears 19300 then this could become mother of poor high in recent times and hold for long time to be repaired..Considering the profile structure of the day, am expecting this poor high to be cleared sooner than showing reversal.

wide POC and 45 degree move away from such POC as liquidation.As discussed in commentary, as long as not getting follow through downside from today low, expecting all session tomorrow minus development to take place to repair today liquidation zone..Minus development is the act when price moves too long/short via imbalance only as inventory adjustment move via single/double prints imbalance, with no follow through, leads to two way balance in next session to repair such imbalance move done.

So, not moving below 19455 but moving above 19495 could lead to such two way auction balance tomorrow.

Composite POC around 19455 and yet another low around there today..If we start accepting below that with value then auction could tilt downside for more liquidation.

Levels wise for next session, move above 19495 could get 19520/19545 if sustains 19570-19580/19605-19620 possible..Further bullish above 19620 for 19650-19665/19690/19720. If fails to sustain above 19540 and moves below 19510 then possible to get 19480/19455 and weak below 19445 for 19420/19390 and more weakness below 19380 for 19345-19335/19305/19275.

Important nuance : Tomorrow could be the session to stay with one bias/one side trades as expecting good volatile two way auction for first session atleast if we open inside value area.So, playing both direction for trades could be tougher.

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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