NF had a large buying tail with poor value area in last session. Buyers were expected to sustain higher above 14940 to avoid mean reversion move. NF started accepting above 14940 in open auction. Above 14990 considered quite bulllish for 15030/15075 and NF managed to get only 15030 in first session then gone for tight balance.. Failing to sustain above 14975 was expected to test 14920/14870 which got whipped during mid session with a move only till 14950 but later in the day this move happened after new day high above IBH and failure lead to probe till 14873.. It printed a tail at low then and closed below dVAL.
Pointers from the day :
NF left FA at top and gone for neutral day i.e, cleared IBH first and failed and gone for probe below IBL and closed beow dVAL. Edge with sellers at close. Negation for them at 15000 now.
NF printed outside week scaling above last week high today. To remain bullish for weekly close, we need value higher above 14975 in first session tomorrow in this outside week auction.
Swing wise another higher value day today. 3rd day of one time frame up. Swing support now moves to 14870 from 14810 to look further higher. Large buying tail today in neutral auction hence that tail is swing negation now.
Price wise, 14920-14890 support and holding that could test 14985 if accepts then 15015-15030 probe possible and quite bullish above 15045 for 15090/15130-15160/15220.
Failing to sustin below 14870 and back above 14920 could test 14960-14975 if accepts then 15015/15030 probe possible.
Failing to sustain above 14980 could test 14920-14890/14850 and quite weak below 14840 for 14810/14760/14710-14690.
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members.
Notes :
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