Daily market summary,plan,charts and data of NF & BNF –14Jul’23
NF had new ATH but with solid poor high top and liquidation on expiry. No follow through from such liquidation day expected to clear poor high sooner. NF opened in liquidation zone and all session started accepting in extn singles with two way auction then had a spike to clear poor high and printed new ATH to close at high. Failed auction at low. Neutral extreme up day. Back to back imbalance days now. Accept in spike to seek follow thorugh higher and failed to defend spike could lead to balance again. 19569-19627 spike zone. Stay in/above spike =strength else weakness. Levels wise for next session, move above 19625 could get 19650-19665 if sustains 19690/19720 then further bullish for 19750-19765. Not able to stay above 19650 could drop to 19600/19570 and weak below that for 19545 if sustains further weakness for 19510-19490 and quite weak below that for 19460/19420/19390. Weekly : Back to back bell balanced weekly overlap profiles now.19545 pivot for the week. Staying above this upside is for 19650-19665 if sustains then move towards 19720/19765 possible then could see balance with a pullback. If accepts 19765 then 19840/19920 opens up. Weak below 19545 for 19490-19460 zone which has been defended many times in the week now..Likely to give up next time on a visit for a move towards 19375/19335/19275-19250.If sustains 19180/19120/19060 possible. Monthly : Expected higher value on monthly to continue and NF doing same as of now. 19450 good support on monthly now..Staying above this grind and skew higher towards 19720-19765 if sustains further 19840/19920 possible next. Weak below 19450 for 19275-19250 then should see bounce else more weakness towards 19150/19060 then bounce possible 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.