NF left a poor value area on Thursday due to failed trend day and retracement towards close also left a weak low at 13745.To avoid repair of this weak low, NF was expected to scale 13790 early in the session and 13745 was kept as support. Below 13745 considered weak to probe till 13680. NF started accepting below 13745 at open gone straight towards 13680 via open drive in IB period itself. Later, it could not sustain below PDL and started making tight balance which pushed price higher towards close to probe above PDH and then closed below dPOC.
NF has printed outside day by probing both PDL and PDH and closed below dPOC..Close suggests exhaustion at high. To negate this view, it has to take out 13790 early in next session to get further bullish move else balanced session possible in outside profile.
NF after having two days of imbalance, got into overlap profile..If not going to get higher/higher overlap profile in next session, then we could have large balance for next few sessions.
Price wise, 13740 is ref to hold for next session if does then test to 13775-13790 possible and bullish above 13790 for 13830-13850.Not expecting anything above 13850 as of now and could result in balance if gets there. Further bullish only above 13865 for 13900 scale.
Failing to scale/sustain above 13770-13790 band could fall back to 13740 and weak below 13740 for 13710/13680 and quite weak below 13670 for 13640/13620/13595/13560.
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