Daily market summary of NF and charts, data of NF & BNF -14Nov'22

NF closed at high in last session with incomplete auction at top.Got a flat open above PDH but could not sustain and all session gone for liquidation auction in a tight range and finally closed with minor spike down to probe VAL of last session.

Push above PDH left tail which rejected again to probe VAL of last session and closed there = weak auction at close.

Volume is quite lower in a narrow range session and data was also suggesting no demand today.Exhaustion signs..Minor reversal towards 18280 zone and then balance possible as long as no value above 18450 now.

Buyers for next session need to clear 18420 clear early to probe PDH zone then should go for higher value to get 18490-18510/18565..Once higher value created should not come below 18410 all session to avoid any liquidation..

Staying below 18420 could lead to probe towards 18370/18340-18320/18280. If sustians below 18280 then test of 18220 zone possible.

NF swing view marked for 18340/18440/18565 above 18250..Had a gap abvoe 18250 and 18440+ done now..As marked in weekend report, 18340-18370 is pivot for the week. At close not looking promise to defend this zone so swipe down likely.Negation now moves to 18340 for swing long view from 18220.No swing short view yet.

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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