Day with poor value area and tired auction last two days with volume below average had a close advantage with buyers in last session..They needed a drive or gap up holding 18250-18275 band else expected liquidation below 18250 towards 18210/18150/18090. NF failed to get the drive at open and gone for open test drive down below 18250 and in first session completed probe of 18090 via solid liquidation then remained as b profile to close at dVAL.
Large selling tail and long liquidation auction with higher than average volume today. Last two days of weak buying fully negated.
It moved below 3days balance with liquidation and no sign of response from buyers today. As long as we stay below today's tail zone looking for more downside towards 18020/17950.
Levels wise, for next session need to accept above 18170 to get 18205-18220/18265/18290..Failing to do so could drop back to 18120/18085-18060 if sustains 18020/17980/17950 gettable.
Swing wise 17950 has opened up after today's auction with negation at 18250.
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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