NF had a 5IB trend day upmove closing at high yesterday.And, gone for never seen scenario of gap down at PDL after such day..As I have been mentioning in last few days reports as well as from commentary the rally was having lot of risk associated with it and answered with a gap down today. After gap down, it cleared PDL and then gone for two way auction filling between yday anomalies zone and then closed above dPOC.
Observation from today's auction and scenarios for tomorrow :
NF left a buying tail as well as selling tail and left another poor value area day..Likely to continue filling large balance of last two days range in next session mostly..15070-15210 roughly the zone requires fill and could look for trending move beyond this zone.
NF left a weak low today at spike high of 02nd Mar..Likely to be repaired sooner in coming sessions.
Observation after yesterday auction was that staying below 15375-15390 band could look for 15040/14840/14720 as swing move.. NF got 15040 today and likely to have sideways to downskew to get other probe zones too in coming sessions.
Price wise for next session,15070-15080 support band in morning session and holding above could move towards 15130 and bullish above 15130 for 15160/15190-15210. May not happen straight but with some two way wild moves this could be the auction path if 15070-15080 holds.
Above 15225 further bullish for 15255/15305.
Failing to scale/sustain above 15200-15220 could fall back to 15160/15120/15090 and quite weak below 15070 for 15040/14990/14960/14920-14890.
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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