After Friday’s auction, bias was for sideways to upside move..14795 was considered as the zone to look for bullish move and 14710-14730 was considered as support for next session..Staying below 14795 observation was to look for balance in Friday’s value zone.. NF had a open below 14795 and below 14710 probe was for 14660/14640/14590-14580..During IB, NF moved till 14665 and then bounced and later probed till 14600..Later travelled back in developing value area to close at dVAH.
Auction clues from the day :
NF printed inside day.Could lead to some imbalance moves tomorrow.
It has filled late extn imbalance of Friday session with value and closed above dVAH.This is advantage buyers and if they fail to get a neat follow through then clear sign of lack of buying conviction.We could then look for retest of Friday auction lower quad swing wise.
NF left a poor value area due to last hour auction.We have no secured high and low today and left poor high and low suggesting lack of conviction.
With the close, buyers got slight edge again and holding value area could look for stopping of one time frame down on daily tomorrow i.,e a probe above PDH..It has been 5 days since NF probed above PDH..
Any move failing to sustain value area and probe back in value could go for repair of entire value area as its the value area developed with lack of conviction which left poor value area and poor low/high.
Price wise for next session, 14720-14730 support zone and holding above, NF could test PDH zone 14780-14800 and bullish further above 14810 for 14850/14880-14900 and quite bullish above 14920 which could probe 14960/14990/15025 if sustains then could get 15075/15130.
Failing to sustain above 14840 could test back 14780 if sustains then could probe 14735 and weak below 14720 for 14690/14660 and quite weak below 14640 for 14590-14580/14540-14510. If sutains then could get 14465/14420.
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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