NF left back to back selling tail at top and closed at dVAL yesterday.It opened at tail zone at top today. If sustains 15080 probe was for 15120 and above 15135 expected 15160 and above..NF made a high via open drive till 15148 above PDH and could not sustain and drive got failed which resulted in balance for some time and then started extending down..With last two days balance, observation was that 15080-14960 range if sustains meant for trend else mean reversion expected in this range..NF after failing to sustain above 15080 in first session gone for 14960 and then failing to sustain below 14960 reverted back to balance high then gone for late spike to print a neutral day by clearing IBH.
Pointers from today's auction :
Third day of overlap profile with two way auction.Buyers emerged as winners with neutral day closing at dVAH..They need to defend 15120-15100 all day tomorrow to sustain higher.
NF left a poor value area due to last hour auction..To avoid repair of poor value area, they need to move away from this profile via gap/drive..Failing to do so and accepting below 15100 could call for a repair minimum till 15020.
That swing probe below 14860 still due and except that late spike today, we had exhaustion at top quad last 3sessions..So, focus for next session after nice 3days balance is how good this balance get follow through upside or fails..Balance rules apply.. Sustain above this 3days balance = trend ; fail to sustain and accept back in balance = probe entire balance.
Price wise for next session, sustaining above 15150 could get 15190-15210 and above 15225 could move to 15255/15305.
If fails to sustain above 15180 and acceptance below 15130 could probe 15100-15090 and quite weak below 15065 for 15020/14965 if sustains then 14875/14840-14825 probe possible.
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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