NF had printed 4th day of one time frame down profile with 3IB move yesterday. Expectation was to have a push higher if fails to get follow through down from this profile..But, NF had a gap down below yesterday profile and gone for two way auction in first session within IB range..Below 13895 probe was for 13810 and this was the range printed in IB and got a nice balance after open drive failure..Later, had a one more liquidation move to print 2IB down and then bounced back to dPOC and did expiry chop to close at dPOC.
Auction pointers from the day :
Gap down and selling tail with another lower value and 5th day of one time frame down..
It was 3-1-3 profile with selling tail at top and then buying tail at low with nice balance in between..Tail at low came from prev naked POC zone and pushed back to dPOC zone..Some sign of demand coming in/ Supply easing off.Close was at dPOC today after 3-1-3 profile auction = bias neutral going into close...Staying away from this 3-1-3 value is trend tomorrow away from profile ; Failing to sustain away and back into value area could do entire value area probe..
Sustaining below yesterday profile probe was for 13750/13600 swing move and 13750 probe done today..If today's tail zone 13720 goes then next move is for 13500-13450 zone..
Price wise, above 13910 could move to 13940-13950 to close gap zone and then for 13980/14020 test of extn singles.If accepts then quite bullish for 14075/14130/14170-14200 to repair entire auction of 27th.
Failing to sustain above 13900 and accepting back below 13850 could test 13820/13780 and weak below 13780 for 13740-13720 if sustains then quite weak for 13650/13610/13550.
First day of series tomorrow as well as last trading day before mega event hence wild move possible with inventory adjustment moves.
Charts and data:
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