5days of balance got extension higher via gap and gap remained unfilled at close in last session which was considered as bullish. Not closing gap but closing at low suggested trap for sellers. NF had a gap up today then attempt to close gap rejected to print neutral day closing at high.
Gap up.
Failed auction at low with buying tail.
Neutral extreme up day closing at high with minor spike.
3rd day of one time frame up.
All the above said structure combination suggesting buyers likely to stay for few sessions here.
Buyers dragged this slower higher leaving poor value area. For next session buyers need to hold 19440 else overlap possible. Weakness below PDL..As long as today's FA low holds this could balance and stay higher.
Swing long opened at 19310 for 19410/19480/19540. It has met two obj today with a probe till 19490.Swing negation now moves to 19310.Upside 19480-19550 good res zone. Tough to clear straight with the volume and range happening last couple of days. Could offer good pause/rejection and looking for balance for a session or two. So, roughly 19310-19550 now this balance zone before next move. 19310 goes means swing long negates. Hold that, have balance and later sustains 19550 means next leg opens up for 19640/19850.
Levels wise for next session, not able to stay below 19450 and move above 19485 could get 19510/19545-19565/19595.Failing to stay below 19405 and move above 19455 could get 19485/19510/19545-19565.Not able to stay above 19525 and move below 19480 could get 19450-19445 if sustains weak for 19415-19405/19380/19355/19330-19320.Quite weak below 19310 for 19280/19255-19230.
Charts and data :
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