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

NF last session auction was confirming weakness..Sellers expected to get gap/drive..They got drive but failed to stay below Feb low and bounced off failing the drive..Bounce was not able to sustain IBH and all day remained in balance then closed below dVAL.

5th day of one time frame down.

Feb/budget day tail and low swiped.

Selling tail at top and got decent rollover data there..This 17700 is immediate resistance now.

Looking for either straight downside from here holding below 17700 or one whip move to 17800-17850 then rotation down to move down further much lower from Feb low. This view based on composite on weekly and monthly coming to end and likely to get imbalance move sooner.Bias is downside as long as no acceptance above 17850.

Levels wise for next session, buyers need to sustain above 17640 to get 17690-17710 and further bullish above this for 17750-17770/17810-17820. Failing to stay above 17640 could drop to 17590/17540-17520/17490-17470 and more.

Swing short from 17920 after clearing 17600 next obj was marked at 17450.This is missed today marginally and bounced off.Negation moves to 17850. Holding this looking for 17450/17350/17150

Charts and data :

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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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