Narrow range lower volume session with value higher.
Closed part of extn singles from 02/08 then closed above dVAH..
Pullback happening still with mechanical auction and poor value areas. Buyers now need to defend 19620 and sustain higher above 19665 in next session to get a probe towards 19710 if sustains 19740 and above towards 19790-19810.
Below 19620 weakness towards 19580/19530/19480-19460/19420 or not able to stay higher above 19720 could drop to 19660/19620/19580/19530.
19640-19665 solid res zone from last week and started accepting today.Buyers next need to look for value higher again above this zone.We moved down with good volume and this is pullback now with lower volume narrow range sessions. Further upside means they could drag like this only with slow skew and once done this could clear poor auctioned zones till 19530/19420 in quick time again similar to last week.
Charts and data :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
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