Daily market summary,plan,charts and data of NF & BNF – 06Jan’23

Green tickz
Jan 8, 2023
2 min read

NF had back to back long liquidation sessions with no reponse from buyers.18100-18120 was marked as resistance. Staying below this expected retest of 18010/17985 if sustains then 17920/17865 expected. NF had open rejection reverse move down not able to stay above 18120 and marked low of 17875 then closed at dPOC.

It was double distribution trend down day.Another form of liquidation from buyers.

For next session buyers need to sustain above 17990-18000 in upper disbn to test higher end of profile till 18050/18090/18120 and rally above 18120 possible. Not able to accept above 18000 could drop to 17960/17910-17890 to get overlap in lower distribution and weak below that for 17865/17820/17750.

As mentioned in commentary,this dd profile either end of balance or to start fresh leg below large balance..End of balance means, we get minus development move back higher into last 2-3 days range towards 18050/18120/18190-18220..Start of balance means it could fail to accept in upper disbn and go for another liquidation below this lower distribution.

Swing wise 17950 and below probe now done. Staying below 18050-18090 band weak to get 17650-17600 next. If moves above 18090 back to balance i.e, neutral view on swing.

Weekly :

NF had 3weeks of one time frame down then got a inside week. Staying below 18300 was looking for 18120/18050/17970/17920. NF just looked above 18300 and probed back 17920. Expected two way auction for the week and it had two day of upmove and 3days of down move and closed the week at dVAL now.

Second week of inside week and likely to deliver imbalance week next. 18090 pivot for the week. Test there and staying below looking for imbalance down week with a move back to 17920-17890 then quite weak beow that towards 17800-17750/17600/17400/17200. Above 18090 could get 18190-18220/18280/18360-18400 for the week then could rotate down.

Monthly :

Dec printed outside month and closed at VAL of the month. As long as staying below 18400 monthly expected a move back towards 17970/17900 zone.This is done now at start of Jan..From here a) sustain down and extend towards 17600/17200 for Jan or b) move back to 18100 reject or accept there to get 18350 then reject to continue down again towards 17900/17600/17200 possibilty for Jan. Things change above 18400 to get 18550/18650-18720 which is again solid res zone to rotate down.

Charts :

Daily