Daily market summary of NF and charts, data of NF & BNF -17Aug'23

NF had a inside day and back to back poor value area at close of last session. Buyers failing to save 19440-19460 band expected a move back to 19390/19360. NF opened below 19460 and had open rejection reverse down move to tag 19390 first then later marked low at 19360 then closed at dPOC.

Another inside day.Back to back inside days and those poor value areas from last two session repaired now.3days now clean bell balance..Likely to get directional move from this composite in a session or two.

Selling tail and close with dPOC skew down and close there.Sellers advantage..They need to get drive / gap down and once done have to stay below 19390-19405. Failing to do so could test selling tail of the day if sustains there more upside possible.

Levels wise, move below 19385 could get 19360/19335-19320 if stays down then 19275/19240-19225 possible. If fails to stay above 19480 and move below 19420 could get 19390/19360/19335-19320. If fails to stay below 19320 and moves above 19370 could get 19395-19405/19435-19445 if sustains then 19475-19485/19510/19535 possible and staying further higher could get 19575/19600/19630.

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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