Daily market summary of NF and charts, data of NF & BNF -24Jan'23

We had normal day in last session and for next session if no clean directional move in IB period then another overlap session expected. NF had a open around PDH but could not sustain and all day had a slow grind down towards PDL zone to close at dPOC.Above 18175 marked for 18215/18240 and NF could not clear above 18215 and failing to stay above 18175 expected move back to 18135/18110 which they did all session.

We had good response from sellers in last session around 18170 and today despite open above them they managed to pull NF down.Data suggests again good set of selling happened today and they closed with advantage with dPOC skew down and closing there.

Second day buyers failed to utilise the favorable open and gave it to sellers to take control. Staying below 18170 skew down now towards last 5days range lower end.Auction incomplete at close at low.

Levels wise, staying below 18150-18170 looking for 18070/18035-18025 if sustains 17980/17940 possible. Not able to sustain below 18050 and back above 18110 could test 18150-18170 if accepts then squeeze for 18210/18240-18250 and more possible.

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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