Daily market summary,plan,charts and data of NF & BNF – 17Mar’23
NF printed 3-1-3 profile with lower value on Thu.Buyers got gap up next session but failed to hold and gone for accepting back in value area of 3-1-3 and probed well below POC..Missed VAL porbe then bounced for neutral day and closed at dVAH. Neutral day..Failed to sustain below IBL and then swiped IBH. Buyers trying to challenge the supply and making attempt after 6days of one time frame down. Last two sessions auction of 3-1-3 profile day followed by Neutral day with IBH swipe at close suggesting same. They need to defend 17090-17120 going forward else these buyers could face liquidation again. 4days of clean bell balance now after large liquidation happened on 13/03..This 4days balance now below extn singles of 13/03..So, buyers out of this balance next should defend above said 17090-17120 band to travel higher to test back those extn singles above 17260 from 13/03.Failing to do so, looking for repair of that 16950-16965 zone where we have unfinished business left from 16/03. Swing wise no clean swing low yet. 17170 ref now got accepted.. So, temporary pause possible on downside and could look for balance now..Fresh leg down if we start accepting below 16900..Else, looking for balance then rej from higher levels after testing high/above this 4days balance then start of next leg down.. Levels wise for next session, above 17220 could get 17260/17330.If fails to sustain below 16960 and accepts 17040 means could test 17080/17120 then 17160/17195 possible.Failing to stay above 17120-17090 could get 17040/17010-16995 if sustains 16965/16930/16890/16850 possible. Swing short from 17400 after probing 16950 obj not negated now at 17170.Balance bias now..Will look for early week auction to draw next swing idea. Weekly : NF printed DD down profile last week. 17560 marekd as immediate res for the week to look for sideways to down week towards 17230/16980.. NF just tested this 17560 zone and rejected then stayed down all week to probe all downside obj. *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.