NF had a dPOC skew down at close yesterday favouring sellers for follow through down..14320 was ref upside..NF had a gap up from close at 14400 contrary to the close leaving sellers no chance than covering positions. It held around VAH and gone for a open drive up. 14425 was the ref for quite bullish move towards 14510 and NF got into trend day move and made a move till 14580 and closed at higher quad.
Pointers from the day :
NF printed a trend day.
NF negated the selling intent of last two days by clearing all ref left by sellers and met the selling tail from 15th. Acceptance further above 14570 could negate this tail fully and failure to sustain above 14570 POC zone could call for balance in next session.
NF had a dpoc skew at close at 14570 with buyers..Its buyers job to get follow through from this skew to get a secured high above 14660.Support for this skew at 14540-14550 zone.Failing to do so could lead to few volatile sessions filling current and last week range to go for large balanced composite.
Price wise, holding above 14540-14550 zone, NF could look for a move to 14610-14630/14660-14670 if sustains then could get 14710 and above.
Weak below 14540 for 14510-14490 if sustains then could move to 14450/14420-14400.
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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