Daily market summary of NF and charts, data of NF & BNF -28Mar'23

It was 3-1-3 profile last session.. Failing to sustain value area means probe marked for other end of value area then to look for follow through other end.NF failed to sustain VAH and left tail at top and gone for VAL and then all day remained down to clear PDL. Sustaining below 17070 probe marked for 17040/16975/16940-16920 and NF done this today.

Selling tail and PDL swipe day.4th day of one time frame down.After two days of failure at weekly lower quad zone, expected squeeze once sustains in selling tail of last session. This attempt at open failed to push into selling tail but supply shown up early in the session today and they ruled all session. Now another test at that weekly lower quad today and lows becoming weak now from last three days lows.

At close, buyers made sm attempt and pushed close towards dPOC. These buyers need to defend 16920 and sustain above 16990-17010 band to test selling tail zone 17050+ and then need to create value there..Failing to do so could invite another overlap session and below 16920 more liquidation possible..

3days clean bell balance with value of this balance now accepting below outside day from 23/03.And already big composite of 11days also clean bell composite..Within this week one good imbalance day awaits with wide range+higher volume.

17090-17110 now solid swing res zone..Holding this looking for sideways to downside towards 16850/16740/16660.They had a good chance today to get squeeze but as said above supply shown up from 17090..So, till they hold the auction no reversal odds.

For next session levels wise, failing to stay below 16920 and move above 16980 could get 17010/17040/17070..If sustains 17110/17140/17170-17190. Failing to stay above 17060 could drop to 17020/16980 and staying below that weak for 16940-16920 if sustains 16880/16850/16820/16765-16740 possible.

Swing long triggered at 17090 got negated at 16950 today..If NF moves to 17050+ but fails to hold and moves below 16980 could enter swing short with 17090 negation for 16890/16820/16740/16660.

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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