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

NF had neutral extreme down day closing at low in last session with FA at top. VWAP zone considered as ref for next session and sellers expected to get drive/gap down.NF got contra open well above VWAP of NE day which pushed for short squeeze in IB period..Above 18105 probe was marked for 18170/18215 and NF got 18190 by IB then gone for all day balance inside IB period then closed at dPOC.

Normal day i.e, no range extn beyond IB period.If no clean directional move in IB period next session,odds higher for another overlap/chop session considering range and volume contraction happening.

FA at 18170 got cleared but buyers lost a good chance today to spike higher.Got some good reponse from sellers all day around 18170. If we sustain this zone good squeeze possible else could stay down in last 3days range.18110 downside ref for sellers to sustain down else back to today high zone.

Hypo wise, above 18175 probe is for 18215/18240/18275 and failing to stay above 18175 could drop to 18135/18110 and weak below 18110 for 18080-18065/18035/18010.

Swing short after meeting first obj 18035 negated today at 18150. Back to neutral view now.

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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