NF stopped 4 days of one time frame up and closed below dVAL of 2days composite in last session. Considered weakness and below 21820 liquidation expected.NF whipped below 21820 and started doing balance/move up in first session.Above 21885 marked for 21955/21990-22005 which they got via spike then negated spike and closed at dPOC.
Outside day after stopping 4days of one time frame up.Could lead to balance if no quick follow through away from this days range.
Probable excess selling tail at top which cleared spike and extn handle intra itself then pulled dPOC down and closed there.21970-22005 excess zone..As long as no acceptance in this band, this could do sm balance and skew down for few sessions.
Sellers job for next session is to stay below 21880 and create value/liquidation below 21820 for more follow through down side..Failing to do so could go for entire session to overlap again in 3days value zone.Though that sell off was quick at closing hours,not shown much of supply taking home inventory.So, sellers job is to defend auction early in the session next.
21820-21840 support whipped for swing and gone for negation at 21990.If this probable excess of today gets confirmed with clearing today low then same view of sm good pullback possible towards 21755/21650.
For next session, levels wise failing to stay below 21785 and move above 21835 could get 21865-21880 and above 21885 could get 21920/21945/21970/22005-22015 and more bullish above 22020 for 22065/22110. Not able to stay above 21870 and move below 21825 could probe 21790-21785 if sustains 21755/21720-21710/21680/21655 probe possible.
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