NF had a decisive down auction with volume and printed 3IB down day in last session.Rally at close was not showing buying intent so looking for minimum 19460 probe staying below 19640. NF had a swipe at PDL at open then bounce had two way auction staying below 19640 and later got range extn down for a move towards 19460 and below then closed at lower disbn of the day.
Double distribution down day with volume higher again in weeks. Liquidation intense getting higher. Likely to stay down and negation for swing now moves to 19665. Swing obj after today auction looking for 19360/19270/19160 as long as we stay below 19665.
Second distribution left anomaly and poor area..Next session res 19510-19530 zone and staying below this looking for fill in lower quad and staying below 19410 is weak for another down session.
Levels wise, move above 19530 is for 19560/19590/19620 if sustains 19650-19665 and bullish further above it for 19700-19710/19740-19760. If fails to stay above 19520 and back below 19475 could get 19440 and weak below that for 19410/19380-19365 and later sustains 19350 means 19320/19270/19225/19185-19165 possible.
Charts and data :
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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