Daily market summary,plan,charts and data of NF & BNF – 10Mar’23
NF printed double distribution down trend day profile clearing extn handle of 03/03 on thursday negating earlier buying intent..DD day with higher rotation factor hence was expecting balance..But NF got clean large gap down day and held gap all session to close as balanced profile. Normal day after large gap down without extension beyond IB range..Could lead to imbalance session next. This gap has taken place after outside day making buyers job difficult now as any bounce could face serious resistance..Two strong res now..17560 and then 17750..Holding below this, trend is sideways to down now. Weak low swing wise and downside not over yet.As mentioned in commentary, swing has opened up for 17290/17050 staying below 17750. Levels wise for next session, fails to stay above 17450 could drop to 17400 and weak below that for 17365/17320/17290/17250-17230/17190 if sustains 17150/17100/17050 possible. If fails to stay below 17250 and move above 17360 could get 17400/17450-17470 if sustains more bullish for 17510/17540-17560/17610/17630-17650. Swing short below 17400 with 17570 negation for 17290/17230/17150/17050. Once probes 17290 negation can be moved to 17440. Weekly : For the week 17600-17650 considered good support to start for a probe of 17800-17850 and considered that zone as quite strong resistance to rotate down to test 03/03 profile zone for repair.NF probed 17860 then rejected and moved down lower to clear 03/03 profile. *rest of weekly and monthly view - available only for members. Charts : Daily Weekly Monthly 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 : a) Check glossary page in website if any of the terms used in the post are not clear. b) If images are not clear, click on them for enlarged view.