NF had a clean gap up after 3-1-3 profile it has left on Wednesday..NF could not sustain the gap and gone for closing the gap as well as much below PDL probe with 7IB down move. Failing to sustain above 15375 was expected to probe 15265 and below 15175 probe was for 14965.NF gone for probing this entire zone till 14965 clearing previous 3days balance it has left down.
Pointers from yesterday auction :
NF printed a double distribution down trend day with large extension singles.
NF had a 7IB down day with rotation factor of -14.
It pulled down the dPOC down at close. Considering above factors of large extension singles, higher rotation factor and 7IB down move, it was solid liquidation profile and far stretched.Odds of continuation down immediate got less chance. With this dPOC shift, if sellers need to get follow through then they should stay below extn singles and probe 14980 below lower disbn for further weakness that too quicker in next session.If happens then quite weak to get pending probe at 14860 zone and below.Failing to do so and sustaining above dPOC/lower disbn, NF could go for creating value by closing extn handles of the previous DD trend down day.
NF printed outside day too..Failing to sustain below outside day, probe is to fill outside day for next few sessions.
Price wise for next session, above 15065 could test 15090/15130 and quite bullish above 15145 for 15170/15210/15250-15260. If sustains 15275 then could test 15300/15340.
Failing to sustain above 15065 could test 15020-14980 and quite weak below 14980 for 14940-14920/14875/14840-14825.
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