NF left FA at low and closed higher with neutral extreme up auction on Thursday.It was confirmation of buyers in control and to avoid risk of repairing poor value area and weak refs of previous auction, buyers had to move away higher after neutral extreme day was the observation. NF gone for gap up with mini open drive. Probe was for 14880 if sustains then 14945 but after gap up they could not sustain 14900 and later gone for liquidation to break morning low and then ended up with narrow range auction closing at dPOC.
Pointer from auction :
NF printed 2nd day of one time frame up.
It was narrow range,low volume day and second day of range below average. Suggesting buyers are tiring with underlying weak structure. To ensure they are not going for mean reversion to clear all weak structure till 14650/14550 they have to get another clean follow through higher value higher volume day.
NF had a gap up and gap remains unfilled.
Swing wise above 14780 probe was for 14880/14950 and NF got 14900 now..Invalidation for swing now moves to 14770 from 14700 and next should sustain 14950 to get further probe higher.Below 14770 swing down starts towards 14610-14550.
For next session, above 14830-14840 support to get 14905/14935-14945/14965/15010.Quite bullish if sustains 15010 for 15045/15075.
Failing to sustain above 14920 could test 14865/14830 and weak below 14830 for 14795/14770 and quite weak below 14770 for 14730/14680/14650/14610.
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