NF had nice balanced profile by close yesterday with dPOC close and expectation was likely to get a push away from this balanced profile without overlap.. NF did get a follow through above PDH at open but could not sustain and gone accepting back inside balanced profile value area and later turned out as overlap profile leaving two days composite balance. Tail-VAL zone was kept as support and expected liquidation below 13890 for 13870-13850 and NF could get only 13870 and survived PDL. Later bounced back in yday value area and moved to day high but could not clear it and left a poor high and closed around high.
Auction pointers from the day :
5th day of one time frame up and another session buyers shown strength by avoiding one time frame up stopping and closed at day high.
Failed auction at low though could not scale IBH, they probed that hence am having this as confirmed FA to look for follow through further upside..Auction yet to be completed by close on upside.
Two days a nice balanced bell profile and odds are higher for imbalance away from this profile for next session.FA and close above dVAH of composite suggesting buyers are keen to push higher after this balance.
Price wise, 13940-13930 support zone for all session and quite weak below this. Holding above this zone, looking for repair of poor high at 13985 and then a move to 14010/14050 and quite bullish above 14050 for a probe of 14100/14140-14170 later in the day.
Move below 13930 could test 13900 VAL zone of last two days balance and quite weak below 13890 for 13850/13820-13800..
Charts and data :
Detailed plan with refs to carry forward, trade hypos and nuances are available to members.
Notes :
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