NF had a weak close at VAL of 2days nice balance on expiry day. NF looked tiring with poor high and buyers expected to defend 17480 and seek to clear 17600 to rally higher..NF had lower open but traded low was around 17480 then had clear open drive and met 17600 by IB period then consolidated around IB which got extension and a rally into second session to print a trend day closing at high..Hypos A and B fully played straight from 17540 to 17720+.
Pointers from last session :
Buyers have registered clean trend day via double distribution day and ended at day high.Auction looks incomplete at high.
It was 45 degree move away from wide dPOC hence buyers need to create value higher next to stay away and move further higher.Failing get value higher, could go for overlap and repair of DD profile.
Being first day of series either overlap or good momentum from IB range expected..NF gone for momentum upside from IBH.
8days of balance clearly accepted higher now and also outside week closing at high..Buyers in control and holding 17560-17600 band they could seek further higher move early next week.Upside over if not much further extension from this profile but clears 17560 quick.That could bring in balance or reversal down.
Swing wise 17480 suggested as support which held with large tail and gone for higher move..As mentioned in live commentary,17560-17600 zone expansion is for 17780/17950.Could have one more intermediate obj at 17840.So, with negation 17560 probe is for 17780/17840/17950.Swing short view can wait now till we see some sign of balance or reversal as we have just came out of 8days solid balance.
Charts :
Daily
Weekly
Monthly :
Data & Hypos :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
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