NF delivered neutral center day in last session with FA at low.Buyers saving the tail of yday expected to accept above 18150 for 18210 and further acceptance there marked for 18270+. They had a open drive from yday tail zone clearing 18150 early in the session and turned into slow trend day to probe till 18315 then closed above dPOC.
3IB trend day.Buyers of yday FA controlled the session all day without much of pullback.Extn handles and VWAP of this session ref going forward.If we clear them then balance or reversal down possible.
Considering the 3IB auction with rotation factor RF of 14 on below average volume day, as discussed in commentary, good signs that today's move completes the auction started with 17850 extension.Now, buyers need to defend 18210-18240 zone swing wise to stay with current..If this band goes then balance or reversal possible.
For next session, failing to stay below 18220 and accepting above 18255 could provide two way balance with a probe towards 18280/18320 and acceptance there could get 18360-18370 then pause if sustains more bullish towards 18410/18440-18450. Failing to stay above 18350 and moving below 18290 could get 18260/18230 and weak below that for 18205/18180-18165 and quite weak below that for 18135-18120/18090/18065-18040 and more.
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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