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

NF left a poor structure DD up day in last session. NF right at open tried to enter into lower disbn of DD profile today and got rejected then gone for repairing poor upper disbn left yday in first session.Then later ended higher with spike close.

It stopped 10 weeks of one time frame down and closed with spike. Spike rules apply for next session. 18003-18049 spike zone. Sustain in/above spike = strength else weakness.

Buyers placed lot of effort yesterday and today to pull this up with mechanical supports..These mechanical supports might wait now for a repair and they could push higher to complete the probe higher further as discussed today. 17975 first sign of weakness and negation for upmove now at 17910. As long we are stay above this,move started today got legs to push higher.

Wide POC and 45 degree move away from that via spike.So, looking for balance in spike/above spike with value all session tomorrow to pull value higher. Incase of higher open, not expecting one way move but some balance with drag down first then later might skew back higher.

Accepted in double print tail zone of budget session with 2days wide POC now at 17945.Advantage buyers to seek higher further.

Levels wise, not accepting below 17980 could grind between 17980-18055 once sustains 18090-18100/18140 possible. Further bullish above this for 18175/18210-18220. Failing to stay above 18100 could fillback till 18040/18010-17980 then could bounce higher.Weak below 17975 for 17945/17915 and quite weak below that for 17880/17850/17815-17805.

Swing wise support mentioned as17880-17900 band to look higher above 17970 to get 18040/18100+. 17880 got a swipe in morning auction but rejected to move higher above 17970 which probed first obj 18040 now. Upside opened up now for 18100-18120/18220/18330-18350. Negation for the view 17920.

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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