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Daily market summary,plan,charts and data of NF & BNF –09Jun’23

NF printed neutral extreme down outside day with spike on Thursday.Considered weakness.Failing to stay below 18680 and move above 18725 expected 18750-18765..If not able to stay above 18765 then expected drop to 18720/18690-18670 and considered weak below that for 18635/18610. NF whipped above 18725 in open session and could not sustain there then moved below 18670 to get till 18618 then closed at dPOC. Outside day and neutral extreme spike down day of previous session now had a follow through value below spike zone on Friday with range extn down..Weakness. dPOC skew down at close and advantage sellers and they need to defend 18660 early next session..Above that squeeze possible. FA top 18842 as long as holds suggested auction is for balance to downskew for 18610/18520-18480. NF probed now till 18618. Same view for coming sessions. For next session levels wise, failing to stay below 18600 and move above 18635 could get 18665 and sustains means squeeze for 18695-18705/18735/18760/18790-18810.. Failing to stay above 18760 could drop to 18720-18710/18680 if sustains 18650/18625 and weak below 18625 for 18595/18560/18535-18525. Weekly : NF printed bell balance profile last week. Staying above 18660 early in the week expected probe towards 18760-18780 and no volume there to push means expected pullback to 18630/18560/18520 then expected bounce. NF had a start above 18660 early at week but could not scale 18745 and delivered narrow range lower volume session then dropped till 18605 and bounced to scale above 18780 but again dropped back to low of the week.Good whipped week with two way auction in narrow range and another bell balance delivered with a close at dVAL zone of the week. Sellers need to act early in the week with such close else mean reversion in bell profile.18690-18720 res to start the week..Holding this band expecting sellers to get follow through downside towards 18560/18520-18480 then bounce if sustains 18420/18360/18300 possible.Acceptance above 18720 could get slow skew towards 18790-18810 zone which is another good res zone..This is RBI scene of crime zone so could reject there for a move back to 18720-18690 if accepts then 18630/18560/18520-18480 possible.Acceptance above 18810 could take this up towards 18890/18940. Monthly : 18550 said sealed ref for the month..Staying above this mentioned upside is open till 18780/18840/18890 then pullback and balance possible for June.NF moved till 18840 then pulled back as of now.If we get close to 18780 then mentioned support moves to 18620 for monthly to look for trending month.Right now week has closed at that 18620 zone and already back to back bell balance weekly profiles negating that view of up trending month as of now. If that 18620 taken out then as mentioned in last week report balance month possible with a move down to 18550/18420 then pullback higher. If 18620 not cleared means then monthly could get one more retest in 18760/18810 zone then rotate down again.As of now not expecting 18840 to be cleared and expecting balance to down auction for the month based on weekly and daily profiles structure. 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.

Daily market summary,plan,charts and data of NF & BNF –09Jun’23
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