NF printed FA + NE spike up day in last session.Back to back imbalance days hence suggested buyers need to accept in spike for follow through higher else balance.NF gone for slow drive and slow trend day accepting in/above spike then ended as trend day at high. Above 19625 marked for 19665 then 19720 which they probed at close.
Buying tail and slow trend day.
Price made a 45 degree move away from wide POC leaving poor value area..This is fine during elongated auction..But what they need to do next is to stay away from value area and build value higher again..Failing to stay away after building value area higher and back in value area could get repair of today's value area.
5th day of one time frame up.Though volume is on lower side, structure wise clean extension from weekly and monthly upper skew balance going on which now marks 19520-19560 band as solid swing support for the month..Likely to stay away from this band till close of the month.If this band goes then some good reversal possible.
Weekly first res zone marked at 19765. Expecting this zone or max 19795-19815 zone to make a pause / rejection for the leg started today to revert back to 19650/19620 worst case test of 19560 then expecting bounce again to make balance in coming sessions. Volume + structure of the day + rotation factor of 16 today suggests for such pullback.
Without repairing 19650 and below if this further moves higher above 19820 then that could be sign for sm climax move with another imbalance move towards 19880-19920/19980 before any pullback. Today's volume not yet suggesting that.
Levels wise for next session, 19670 good support and push higher if we open inside and move above 19730 could get 19765 if sustains 19790-19810 then further bullish above 19820 for 19850/19880/19920. Not able to stay above 19795 and move below 19730 or not able to stay above 19765 and move below 19710 could get 19680 if sustains 19650/19625-19610 possible if sustains 19580-19570/19540-19530 probe.
Charts and 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 :
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