NF had a NE down day with FA at top on expiry day..21840-21865 considered as resistance to hold else retest of FA top and that accepts means more bullish move expected till 22130. NF opened above 21865 then got volume drive which cleared FA top at 21920 then moved one way till 22198 to mark new ATH then dropped and closed below dPOC.
Fresh auction with volume now above 4days composite as well as monthly VAH = bullish. Volume printed on Friday is highest than 2 big volume days of Jan..As long as tail of Friday holds buyers in control to have balance and skew higher in coming sessions.
As discussed in commentary, though intra trend move they negated with a drop, held morning tail and closed.Volume and data still with buyers.Profile got poor value area and anomaly..So, holding Friday tail looking for quick repair back move towards 22030/22070/22130-22150 then may be a balance for a session or two or continue moving higher..
If we fail to stay above 22050 and moving below PDL with value then could get sm solid liquidation.
Levels wise, not accepting below 21910 and moving above 21950 could get 21990/22030-22050 if sustains 22070 then 22120-22145 possible..Anything above 22155 holds then 22220-22240. Not able to stay above 22130 and moving below 22070 could get 22040-22020 and below that could get 21975/21940/21910 and weak below 21870 for 21840/21815 then bounce else 21780-21760/21720-21690/21650-21635 probe.
Weekly :
NF had a long liquidation week closing below dPOC..Sellers needed push down early holding 21620 else upside move was marked till 21840-21900 which was strong resistance zone.Once holds above that probe was for 22000+. NF stated moving above 21600 to get 21840-21900 zone then had a balance of 3days roughly between 21600-21900 and then ended week with a move above 22000 closing above dVAH..
21870 pivot for the week to start with to move higher towards 22050/22120-22150 then reject else 22220-22240 possible..Once sustains 22240 then move is for 22360/22440. Roughly 22150-21870 zone looking for balance before big move..Below 21870 could drop to 21820/21760 then bounce as whip move downside before a rally..If stays below 21760 then 21690/21635/21525/21465/21400 probe possible..21500-21400 good support zone to look for bounce else 21290/21200 possible.
Monthly :
Monthly ended as bell balance closing above dPOC and Feb started with trend up move..21800 should hold for this early trending up move..If holds 21800 and doing sm balance then range extension higher towards 22360/22440 possible..After a balance or straight 21800 goes with daily value means Feb could see liquidation towards 21690-21635/21525/21400/21290/21200.
Charts
Daily :
Weekly :
Monthly :
Data :
Notes :
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