After a choppy auction of inside day NF closed with advantage buyers in last session..Drive or better gap was expected from buyers to probe 16100 as they got back to back good volume days so had to get such open to ditch all weak ref and auction below. They got a gap today at 16100 and gone for extended open auction then later left FA at low and closed at high.
It was gap up day and gap held till close and left higher value day. 4th day of one time frame up now.
Failed auction at low and then neutral extreme up close..
Buyers in control with above info.
As discussed today, gap+FA+Neutral extreme is good combo to probe 16240+ next holding 16020-16050 band.Below 16020 back to 15950/15870-15850.
Swing wise 16240 next probe zone sustaining 16050 as mentioned in weekend report.Any stretch means max 16275-16310 then could look for rotation down to 16150/16050.Sustaining 16310 opens up 16390/16500. As this rally has now started leaving all weak refs down, better buyers get one way move towards upper end of June profile and any pullback should hold 16020-15950 band for swing..Below 15950 we have clean 400-600 pointer range to be cleared quick till 15500/15350.
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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