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Daily market summary,plan,charts and data of NF & BNF –19May’23

NF had a close at dPOC with dPOC skew down on Thursday..18200 considered as res for next session and failed to sustain there and moving below 18165 expected probe for 18135/18110/18070..NF gone for this move in IB and IB swipe till 18090 then all day got two way balance then got spike higher close at high.. Failed auction at low after swiping May month low. Neutral extreme up day with spike up close.18210-18240 spike zone..Sustain spike zone = strength else weakness. Sellers failed to sustain below two days low and accepted back well in large balance going on..Friday low marked solid swing low now and auction likely to remain in May month balance for few more sessions now or should seek one time frame up on daily profiles from here..View negates if we start accepting below 18150 with value again immediately in next session. 18150-18170 good support for next session..Any pullback should defend there and push back to 18210/18240 if sustains could get 18270/18320-18330/18370/18400-18410. Not able to sustain above 18240 and accepting below 18200 could test 18165/18130/18100 and quite weak below that for 18070/18040/18010/17965. Weekly : NF had a two week balanced profile at close of last week and structure wise expected downside to 18065-18040 with 18390 as ref for buyers..This view got whipped at start of week as move below 18390 got rejected and scaled 18390 to get 18470 and then started accepting below 18390 which moved till 18090 holding 18390. Outside week now after two weeks of bell balance..Week got skewed dPOC down and closed above that POC.18150 support for the week and staying above it probe is towards 18320-18365 max 18400-18420 and then could rotate down to 18220/18150 zone to remain in balance..If sustains 18420 possible to get 18490 and no failure there means spike to 18650 possible. Accepting below 18150 with value could get 18040 and that goes means quite weak for 17960/17860/17750. Bias for the week is to look for another overlap week or one time frame up on daily to swipe higher above last week high..Things change totally first with acceptance below 18150 then solid confirmation below 18040 for imbalance down move. Monthly : Good bell balance still going on monthly now post spike close happened in Apr month.Reversal on monthly below 18040. Expected balance on monthly to continue between 18050-18400 which they whipped upside till 18475 and still inside the zone marked as of now.Expecting May to continue probing in between the existing range marked in May as of now and likely to move away only from end of May/Start of June. Quite week below 18040 to look for spike down close..Upside need to see quality of auction and volume when it reaches upper end 18420/18490..If its good then spike possible above 18490 for 18650. 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 –19May’23
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