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

NF cleared extn handle of previous session and closed at POC in last session suggesting buyers not yet committed for a rally. Sellers of last session expected to hold below 17975 to clear 17910 then sustain there for downside..Whichever side of above said range cleared expected good move that side..They selected to clear 17975 and got clean imbalance move upside in IB period. Probe was marked for 18040/18080 above 17975 which almost got completed in IB period then had a one time frame down move to test tail zone of morning tail which rejected and pushed for close higher.

3rd day of one time frame up now.And, closed with spike.Advantage buyers. 18077-18103 spike zone..Accept spike = strength else weakness.

Some good tilt of auction happened today in closing hours and buyers came out as winners. 18055 intra ref and 18010 solid swing support now for them to move higher from here.Capturing 18105 is one good attempt from buyers after last 3days of auction and they should now seek higher further to move to other end of balance.

Levels wise, staying above 18055 looking for imbalance higher towards 18150/18180/18220-18230 if sustains then more possible.

Failing to stay above 18120 and move below spike zone could go for test of 18035 if goes means more liquidation possible towards 17980/17940 and below.

Swing short negated now at 18080. Staying above 18010 swing now could get 18180/18230 and once moves there 18075 becomes swing support. Below 18010 swing short activates again with 18110 negation for 17940/17875/17800.

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.

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