NF closed as Neutral extreme up day on expiry with spike up close..Shorts were still in system and above 24460 band expected squeeze and once started moving above 24460 with 24330 negation expected squeeze to get 24510/24580+. Weakness considered if we stay below 24380. NF opened above PDH and held 24380 to get open test drive up to clear 24460 then pullback again held 24380 and once cleared 24460 next time got quick squeeze to get 24510/24580 then remained in extension zone all day and closed at dPOC.
Double distribution up day moving away from balance high to get new ATH.
Skewed wider upper disbn and POC moved to upper disbn. Buyers job to defend POC to extn handle zone next and overlap in upper distribution and look for move higher further next session.
Weakness if extn handle goes with such skewed POC in upper disbn.
Swing support now 24450 and as long as this holds upside buyers could move further towards 24640/24720/24790+..If 24450 goes means, we could look for some balance in coming sessions again.
Levels wise for next session, move above 24565 could get 24590/24620 then pullback possible.If sustains then 24650/24680 and further bullish above 24695 for 24725/24750-24760. If fails to stay below 24500 and moves above 24530 then 24565/24590/24620 possible. Not able to stay above 24595 and moving below 24550 could get 24520/24490 then bounce else 24465 and weak if sustains there for 24425/24390/24355-24335 further weak below 24330 for 24305/24275/24240-24230.
Weekly :
24315 considered as support for the week. Holding this fill back higher towards 24450 then pullback expected and later stays above 24450 means upside towards 24540/24620-24650 expected. Move below 24315 marked for 24260/24205 then bounce expected. NF whipped below 24315 at start of week then moved to 24450+ to get 24500 then pulled back and staying below 24315 moved to 24215 then bounced which lead to some balance. It cleared 24450 towards end of week to get 24590.
Overlap higher week and second week of one time frame up after large outside week. Closed above dVAH. 24450 pivot for coming week. Holding this buyers could be in control. This goes means liquidation and balance possible. Holding 24450 upside towards 24590-24640/24720/24790 pullback possible. Below 24450 could get 24380-24350 which is solid wide POC from two weeks balance hence bounce back to 24440/24510 possible. Below 24330 could get 24250-24230 then bounce else 24150/24090 odds. Upside as of now,not expecting beyond 24800.If happens then 24880/24950.
Monthly :
July started holding well around/above June high.So, as long as holding above 23900, expected balance and skew higher towards 24600-24650/24800 then retrace.It had some balance and moved to 24590 now. Monthly support now moves to 24080. Immediate support at 24300-24350. As long as this 24300-24350 holds balance to skew higher could stretch further then do a pullback for balanced profile on monthly.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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