It was clear long liquidation profile with large tail + b shaped profile yesterday. Expected volatile choppy day if we open inside 15040-14920 zone and NF gone way choppy today with neutral profile closing beow dPOC. None of the hypos planned yesterdy worked straight and it whipped all over.
Auction pointers from the day :
NF printed a neutral day i.e, not able to sustain above IBH and cleared IBL later. It was two way balanced profile with a close below dPOC. Sellers need to stay below 14990-15000 else could be squeezed early in next session.
NF has started accepting above 12th POC in first session today but failed to sustain higher..Later it has gone for two way balance today which filled imbalance zone of 12th and 15th..i.e, imbalance below
15020 from 12th and then yday tail zone at top.Creating value in previous imbalance zones are signs for reversal which suggests NF could move higher towards 15090/15130 minimum again.NF has left lot of mechanical rej during intra auction today and left poor value area too so probe back to today high zone could repair everything.As mentioned in commentary, today’s second session had a poor job from sellers and they are likely to get a squeeze to clear all poor rej they have left in first session.This entire view negates below 14920.
NF rejected today at maj extn handle zone of 15085 from 12th..Any retest there tomorrow if accepts could travel further in the large extn singles zone of 12th Mar..Failing to sustain again and falling back inside today’s balance below 15000 in second session could lead to retest of current week lower quad 14850 zone again.
Price wise, 14960 support for open tomorrow if holds and scales 15000 then could get 15040/15070-15090/15130. Above 15145 further bullish for 15170/15210/15250-15260.
Failing to sustain above 15040 and accepts back below 14990 could get 14950 adn weak below 14950 for 14920-14890/14865/14820.
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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