Daily market summary of NF and charts, data of NF & BNF -15Mar'23

Long liquidation b profile in last session and suggested swing wise not done yet.Buyers expected to clear 17170 then 17220 to move higher..Failure to clear expected balance in value area of last session.NF got a move clean at open above 17220 but could not clear PDH then all day started moving down to fill back value area then ended up clearing PDL and closed lower.

It was clean discreet trend day down and 3IB day.They didnt reveal the intent all day and done the job slowly.

NF closed at 5month low. Weakest.

Last two days registered quite a good volume and today we closed at lower quad of these two days balance.Mentioned yday that below 17090 good liquidation possible which started at close.Another weak sign..As discussed in closing commentary, bias for drive/gap down and 17040-16850-16650 move could be quicker if we get followthrough down after today's close.

17080 good res intra tmw and 17170 swing wise res zone now. Staying below these two zones looking for downside to continue.

Levels wise for next session, above 17120 could get 17160/17210 if sustains 17260 and above possible..Below 17040 could move to 16990/16960/16920-16890 if sustains then wide open till 16820/16765/16725/16660 and more.

Swing short from 17400 met next obj 17050 today.Negation now moves to 17170. Holding this probe is for 16980-16950/16850/16735/16660 and next obj is 16450/16250 below 16660.That regime shift capable of getting all this obj in quick time.

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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