NF had 4IB triple disbn up day in last session stopping 7days of one time frame down move with outside day.Failed to remain as trend day at close hence buyers next expected to rotate in upper disbn to get follow through higher else expectation was to clear extension singles left in last session..NF at open failed to sustain in upper disbn of last session then gone for all day rotation down to close both large extension singles left on Friday then closed below dVAL.
NF negated triple disbn profile of last session..As mentioned in last report, closing extension singles of such outside day next means then few sessions of balance..This is possible now..Its 6days clean bell balance now and could rotate in this composite now.
Volume was on higher side post outside day and it printed inside day today..Also left poor value area due to quite a choppy two way auction..Close was weak below dVAL..Sellers need to hold below 16970 to look for filling till PDL zone then test towards 16820..Staying above 16970 could get short squeeze towards selling tail/PDH/composite high zone..
Swing wise suggested neutral for the auction to take place in 16850-17200-17350 zone..Maintaining same view..But today's auction opening up swing towards 16650/16450 later via swing..Could wait for a day or two to get more confirmation.
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.
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