Daily market summary,plan,charts and data of NF & BNF – 17Feb’23
Balanced profile with close at low on Thu. They had a gap down at HVN zone around 17950 then bounced but failed to enter into last bell session range and all day came down then closed at dPOC. 3days of one time frame up stopped now. Spike and important extension handle of 15/02 both negated in last session. No repsonse from buyers. Selling tail and poor value area and close at dPOC. Open inside range could go for filling value area then expecting more downside as auction was incomplete at low. Closing extn handle at 17920 now calls for more downside as long as no acceptance above 18020. Levels wise for next session, not accepting above 17990 could fill back till 17920 and weak below that for 17880/17850/17820-17805 and quite weak below that for 17760/17720. Not able to sustain below PDL and accepting above 17920 could move to 17960/17990 if accepts then 18020/18050 possible and quite bullish above 18065 for 18090-18110/18150. Swing long view negated at 17920 after probing 18150. Swing short triggered now at 17920 and objective are open for 17805/17720 and below.Negation for the same 18090. Once probes around 17805 negation could be moved to 17950. Weekly : Weekly left inside profile last week. 17950 was marked as resistance and acceptance there was marked for 18040/18100/18200.NF did this move and closed at dPOC of the week now at 17950. Triple distribution profile after stopping one time frame down of 10 weeks. 18020 resistance to start the week.Holding below this looking for test of 17820-17805 and that should hold else could move down towards 17740/17680 which is strong support zone again to bounce higher for 17810/17890/17950 to fill back triple distribution profile of the week..If sustains then 18020 and above that good for 18090-18110/18170-18200/18300.Value below 17680 calls for move towards 17550 then bounce..If accepts means 17400 possible.Acceptance below 17400 means triple disbn profile giving up hence some solid liquidation possible towards 17200/17050. Monthly : Monthly now met 18100 above 17950 and closed at dVAH zone of month. Well balanced profile on monthly now. Early in the week no rally means odds are higher to drop back to dVAL of the month around 17700 next week then that zone decides if we move back to mean of the month 17950 and above or imbalance down further. This week auction has left secured high for the month at top and as long as staying below 18020-18060 band pressure with buyers for the month hence possible to have sideways to downside skew. Above 18060 some good move possible again higher side for any spike towards close of the month to get 18150-18200/18300.. Staying below 17700 increases the odds for testing lower end of month towards 17450. 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.