Short covering inside day for NF in last session.Mechanical auction by buyers with four outside bars and with dPOC close on SC day hence they had to defend 24290-24260 else VAL and PDL zone probe expected.Considered weak below 24260 for 24225/24175/24125.NF gone for VAL swipe probe via open drive to get below 24175 then bounced.Not able to stay below 24250 and move above 24320/24360 considered bullish for 24410/24445/24480. They made this towards close to tag 24475 then closed at dPOC.
Double distribution up day.
Auction incomplete at top with unsecured high.
As long as no acceptance in lower distribution of the day, balance and skew higher odds.
Extn singles of 28/11 closed suggests no major weakness as of now.Looking for some large balance as per structure.
24250 swing support now.As long as this holds, current week NF planning to get 24550/24630/24700 and may not happen straight but with some inventory adjustment two way move these obj could be done.
Levels wise for next session, if fails to stay below 24360 and moves above 24405 could get 24440/24480-24495 and above 24505 could spike to 24535/24560-24580 reject else 24615-24630. If rejects 24290 zone and accepts above 24350 then 24380/24415/24440/24480-24495 odds. Not able stay above 24550 and move below 24470 could get 24435/24395/24365 weak below 24360 to get 24335-24320/24290 reject else 24260/24225/24175/24125.
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