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Daily market summary,plan,charts and data of NF & BNF –11Aug'23

NF printed 3-1-3 profile after accepting spike low on expiry day.Considered Weakness. If stays below 19595 then expected probe was towards 19520/19480..NF gone for this via open drive till 19490 then all day remained as long liquidation profile to close below dPOC. Long liquidation b profile. Not able to sustain higher in selling tail of this profile could lead to further liquidation as this is second day of acceptance below spike low from 09/08..Still a weakness. Weak low around 04/08 low and after that spike day to 19700, mentioned that without repairing 19530/19420 long side carries risk. They repaired 19530 but again making weak low around 04/08 low..So, same observation that without repairing 03/08 lower disbn till 19420, risk still with long side.. For next session, staying below 19495 weak towards 19465-19450/19420/19390 if sustains 19335-19320 posssible. Not able to stay below 19440 and move above 19500 could get 19530/19560 and bullish above that for 19600/19630 if accepts further then 19675/19700 possible. Weekly : Inside week closed at low below dVAL.Weakness. 19540-19565 pivot for the week.Staying below this probe is towards 19460/19420-19390 then bounce else test of 19320/19275/19165-19150. Bounce any from lower levels if clears 19565 then probe towards 19620/19660/19710-19740/19810 then could rotate down. Monthly : Auguest as long as staying below 19700, expected liquidation towards 19360/19270/19165/19050.This move not yet done and as long as staying below 19700 looking for same probe. If accepts 19700 then good overlap in July month then directional downmove view negates and could look for balance in July range. 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 –11Aug'23
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