Gap down and triple disbn trend down day on expiry and auction looked incomplete at low.Expected one more push down to 25390-25375 then sharp rally and then expected to come down later again.NF had that push down in IB as open test drive down towards 25325..Failing to stay below 25395 and move above 25485 expected rally towards 25555/25595/25635 rejection else more upside expected..They had a rally till 25630 and got sharp rejection to clear IBL and then gone way lower then closed at dPOC.
Failed auction at top.
Neutral center day with dPOC skew down and closed there.Sellers need to stay below 25240 to start the day after such close else sm two way balance possible to start the day.If we open inside range then long side view only above 25350 as that is major resistance for the day next.As long as staying below 25350, looking for balance to skew down next and downside 25050 test possible below PDL and that should hold and bounce else more liquidation.
Back to back heavy volume days..Immediate V shape reversal less chance..Odds for balance or more downside next.
Double print selling tail of the day becomes solid resistance for the week.
Levels wise for next session, move above 25245 could get 25275-25290/25320/25350 reject else above 25365 could get 25390/25435-25450 reject else 25490/25525/25560/25635 probe. Not able to stay above 25330 and below 25280 could do two way fill with a probe towards 25250/25220/25185-25165..Weak below 25110 for 25085/25045-25025/24990/24965 if sustains 24920/24885/24850.
Weekly :
Triple distribution profile at end of last week and marked 26440 as resistance for the week. Not able to sustain above this, expected a move down towards 26250-26220/26150/26070-26040 not holding means 25960-25920/25850 probe expected.NF gone for solid liquidation week and probed way down till 25125.
It has cleared two weeks low and 25475-25525 becomes resistance for the week.Looking for either balance below this then range extn down or one more push down then bounce towards this zone for the week. 25050-25165-25240-25350-25450-25525 zone fill looking for the week. Staying above 25525 could push towards 25610/25690-25720 reject else 25800/25870 possible.Weakness could continue staying below 25050 towards 24965/24870-24840 and that goes means spike towards 24740/24665.
Monthly :
Oct started as long liquidation month now and holding around 25050 could fill between 25050-25525 and later above 25525 could get 25690/25840-25900 and as of now 25900 sealed.Below 25050 could have range extn down towards 24900-25850 then more weakness below that later in the month towards 24675.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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