Daily market summary of NF and charts, data of NF & BNF -16Feb'23

After a spike close yesterday, NF got a gap and drive to probe 18150 then could not sustain IBH and gone for gap fill towards close and closed at low.

Balanced profile with close at low.18090-18120 band shown resistance today.Buyers need to accept this band else could travel down in spike zone of last sesssion then towards HVN zone down around 17950 and then could invite buyers there.

Levels wise, above 18090 probe is for 18120/18145-18155 if sustains further then 18210-18220 and above possible. Not able to stay above 18090 could drop to 18050 and weak below that for 18010/17980 which is minor support if accepts then 17950-17940 zone then bounce possible. Quite weak below 17920 for 17880/17850/17815-17805.

Swing long probed next zone 18120. Negation at same 17920 level for rest of obj 18220/18330-18350.Buyers need to respond around 18000 or 17950 worst case incase of any drop after today's weak close. Things change below 17920 which could mark this spike of yday and today auction as good buyers trap.Swing short then below 17920 with 18090 negation to get 17805/17720/17600/17450.

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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