Daily market summary of NF and charts, data of NF & BNF -20Feb'23

NF stopped 3days of one time frame up and closed extn handle at 17920 also in last session..Considered weakness.As long as no acceptance above 18020 was looking for more downside. NF gone for this move with range extension down today staying below 18020 via another long liquidation profile.

Double distribution down trend day with dPOC shift down and close there.Advantage sellers..They need to defend 17890-17910 next session and get drive down or gap down and sustain lower for more.

Acceptance above 17920 could push back into upper disbn of today then could go in for balance.

14/02 and 15/02 was mechanical support push higher days and was expecting probe later there to clear those mechanical supports once upmove is over..NF almost done this now clearing all ref zones of these two days.NF clearly back in balance and no response of buyers yet.

Levels wise for next session, not accepting above 17895 could fall back to 17850 and weak below that for 17820-17805 if sustains then 17760/17720/17680 possible. Acceptance above 17920 is for 17950/17980/18010. If not able to stay below 17780 and moves above 17850 then could test 17890-17910/17950.

Swing short triggered at 17920 travelled till 17835 now and yet to probe obj zones 17805/17720.Negation at 18060 now.Once probes below 17820 negation could be moved to 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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