NF opened at VAH zone of last session long liquidation profile and got drive up to swipe traded high zone 24390.Met with supply there to push down back into value again which then lead to two way large balance and later got clean extn down to travel below POC of last session then closed below dVAL.
Double distribution trend down day. Closed below POC of last session in lower disbn = weakness.
Supply needs to hold below 24180 and create value below 24090 for weakness to continue for next session. Extn handle at 24180 goes means balance/travel back in upper distribution odds.
Swing holding below 24450 retest of 24040/23960 expected and moved till 24000 they did today. Swing resistance now moves to 24250. Goes means immediate bearishness negates and could look for move back to 24310/24380/24460 then decide there.
Levels for next session for trades, kindly check hypos below.
Charts and data :
Notes :
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