Daily market summary of NF and charts, data of NF & BNF -22Aug'22

NF printed double distribution down trend day auction with 5IB move in last session suggesting solid liquidation from buyers.Acceptance below such DD profile was for next round of liquidation..NF gone for this today with another trend down day closing at low.

It was clean trend day down..Intent was heavier than last session today with auction and data wise.

NF stopped 8 weeks of one time frame up.

Gap down and large selling tail with volume on higher side which closed next gap at 17585 and also cleared major support 17550 discussed in weekend report..Staying below 17570-17590 in next session probe is for 17420 and below next as per probe zones marked below 17550.

Swing wise two scenarios from here a) stay below 17570-17590 to get 17420/17365 then get bounce to retest 17530/17590 and reject to rotate lower below for 17350/17250-17200 b) bounce not rejecting but accepting above 17590 means then 17700-17740 then rotate down again for balance.

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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