NF had 3rd day of one time frame up with higher value and also got FA at low on neutral auction yesterday. These were considered bullish for buyers to take it further. Expected balance around 12065 today if moves higher then a move towards 12100-12120 then 12150 was the zone expected to be probed.NF had open auction around 12065 then gone for 12100 probe and then later by close tagged 12150 and closed at highs.
NF had a large gap up and held gap and gone for higher value day and closed at highs following gap rule. This gap high 12030 becomes short term support and gap low 11945 becomes solid swing support.
NF printed 4th day of one time frame up - more dominance of buyers.
NF gone for extension on weekly and value is still lower..NF could get into time wise correction/balance post a session or two.
NF established sign of incomplete auction by close and could get follow through further from this profile to complete the auction..
Price wise, holding above 12130-12100 band, probe is for 12170/12220-230/12260 zones. This 12230-12260 zone could offer some pause for intra/ST move..If sustains successfully then next probe is towards 12330-12350.
Failing to sustain above 12150 and move below 12120 could test 12095/12060 and weak below 12040 for 12015/11980 and quite weak below 11970 for 11940-11920/11865.
Charts and data :
Detailed plan with refs to carry forward, trade hypos and nuances from the day are available to members.
Notes :
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