NF had 8 ATR move down in last session. 22150 marked as ref for buyers to get relief.Not able to sustain that expected drop to 21950 then below that 21850/21790 then bounce expected. NF held 22150 at open drive then dropped below 21950 to get 21825 then bounced and cleared 22150. Above 22150 marked upside till 22750-22780 and all day moved higher to mark high at 22710 then saw some profit booking and still closed at upper distribution of the day.
Triple distribution up day.
Inside day.
22750-22850 major resistance..As mentioned in last report, as long as not accepting above 22850 looking for balance.If sustains that zone then clean move towards 23050 and decide there.
For next session, its buyers job to sustain above 22680 which could make it bullish for first session. Failing to sustain 22680 or after clean extn higher and later accepting below it could look for balance and rotation back till 22550 and stays below it means liquidation possible.
Levels wise for next session, If fails to stay below 22570 and moves above 22620 then 22670/22720/22760-22780 and bullish further above 22805 to get 22860-22880 quite bullish above that for 22940/23020-23050. Not able to stay above 22780 and accepting below 22680 could get 22620/22570-22550 weak below that for 22500/22450/22390-22375 bounce and later sustains means possible to get 22315/22240-22220/22160-22140.Quite weak below 22120 for 22050/21980/21920-21890.
Charts and data :
Notes :
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