Daily market summary of NF and charts, data of NF & BNF -31May'23

NF printed lower volume no demand day and 18650-18660 zone had mechanical lows in last session with close at dVAH..Test below last session low and probe back into large gap below was expectation if no move above 18765. they opened lower near PDL and gone for this gap fill then closed at dPOC.. Marked quite weak below 18670 for 18640/18615/18570 and NF gone for this probe today.

Two days of narrow range lower volume session resolved down with lower value and closed gap at 18590.Weakness.

Selling tail and liquidation profile. Not able to sustain above today value area, probe is now for overlap to down to repair poor value area left today and more liquidation if stays below 18570.

18710 now good swing resistance to look for 18480/18420 in coming sessions as mentioned in commentary.

For next session, above 18645 could get 18670/18700-18710 and more bullish above 18720 for 18750-18765/18790. If fails to sustain below 18560 and moves above 18610 then could get 18640/18670/18700-18710. Failing to stay above 18670 and move below 18630 could get 18600 and weak below that for 18570/18545/18515 if sustains 18480-18470 possible and quite weak below 18460 for 18430-18420/18390/18360.

Charts and data :

Monthly charts :

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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