Daily market summary of NF and charts, data of NF & BNF -14Sep'23

Double distribution trend day it was for NF in last session.They got drive up from ledge top of last session but failed to hold and gone for clearing last session POC and tested extn singles then could not sustain and bounced to close at dVAH..

Long liquidation profile closing at dVAH..

10th day of one time frame up..Getting too long..8-10 days one time frame usually on any strong market and rare case it stayed higher after 10days without balance/not stopping one time frame up..Today was highest volume of Sep despite range is below average.And some heavy transaction towards close mostly favouring supply in to close..So, next session higher odds for sm imbalance move either one way up squeezing supply or move down back to PDL zone possible based on volume and data into close..

Buyers have to defend 20120-20135 and move higher above PDH..Failing at/above PDH zone is for overlap back to 20135-20120 and stays means liquidation possible. Swing support moves to 20090 from 19980.

Levels wise for next session, not able to stay below 20135-20120 band could push higher to 20190-20210 and bullish above that for 20240/20265 and stays higher further could get 20310-20330/20365-20375. Not able to stay above 20240 and move below 20180 could drop to 20150/20125 if stays down then weak for 20090/20065/20040 then could bounce..If stays down further then 20015/19980-19965 possible.

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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