NF had large gap down below weekly strong support zone 24450 and below that marked for 24250-24230 excess tail test which they got in IB and bounced but could not sustain above open traded high then again gone down to get extension from IBL which lead to more liquidation travelling fully in that tail..Weekly and monthly marked weak below 24250-24230 for a probe of 24150/24090/23950 and they gone for swiping that straight then remained as long liquidation profile then closed at dPOC.
Large gap down of 300 points.Back to back gap down days.
DP selling tail and long liquidation b profile making August outside month.
3IB down day and closing at dPOC suggested weakness not over yet and test of today low zone and even push down further possible before any relief move.Volume heavy session.
Swing holding below 24450 possible to have balance in today profile to retest 24040/23960 then look for test below today profile to get 23880/23820-23780 bounce else 23700-23650 odds.Below that 23560/23450/23340/23200.
Levels wise for next session, weak below 24060 for 24030/24000/23970-23960 and quite weak below that for 23920/23880/23840-23820/23780 bounce else 23735/23680-23655. If fails to sustain above 24250 and moving below 24200 could probe 24160/24120-24105/24070-24060. Any gap/drive down not able to stay below 23870 and moving above 23950 could test 24000/24040 reject else 24090-24105/24145 reject else 24180 and bullish above that for 24230/24270/24320/24360 if sustains 24380 then 24420/24460.
Charts and data :
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