After last session observation was that buyers still holding auction with no sign of balance.They got another gap of 100 points today but could not sustain further above open session high and after balance gone to close gap.Then bounced to clear morning high and closed at high.
Barring freak high, it was neutral day with IB extreme both side cleared and closed as neutral extreme up day. Buyers need to stay above VWAP of this session to move up further else overlap and test of buying tail of today possible.
Failed auction at low from buyers..
7th day of one time frame up.
Swing obj final one marked at 21010 got filled today..Swing support now moves to 20890. As long as this support holds, current leg could move higher till 21120/21210/21300 next..This could happen either straight or after small balance..There was some supply/profit booking seen today and this supply not gone for squeeze despite closing at high..If they get squeeze then upside could continue further..If they are able to hold and clear VWAP of today then sm balance possible before making further move higher.
Levels wise for next session, not able to stay below 21010 and moving above 21045 could get 21070 and squeeze possible above this for 21100/21140/21180-21200/21240.If fails to stay below 20960 and move above 21010 could get 21045/21070/21100. Not able to stay above 21070 and moving below 21020 could get 20990 and weak below that for 20965/20940-20935 and quite weak below that for 20890/20865.
Charts and data :
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