Trend day turned into short covering profile in last session and buyers expected next to defend POC else overlap in value area and testing buying tail expected. NF gone for open drive then almost got PDL then closed at low. Considered weak below 24520 for 24450-24435 then bounce else 24385/24355 and below expected to test tail and all that probe done today.
Large selling tail today which makes 24450-24470 swing res now.
Long liquidation profile with poor low and incomplete auction at low.
Value in buying tail of last session = weakness.
Swing support at 24330 taken out and swing res now at 24470. As long as this holds, swing down towards 24210/24135/23985.
Levels wise for next session, above 24395 could get 24430-24440 reject else 24475/24510/24540/24580. If fails to stay below 24220 and back above 24305 could get 24345/24380-24395. Not able to stay above 24410 and moves below 24350 could get 24315/24280 weak below that for 24245/24215-24190/24150-24135 quite weak below 24110 for 24075/24045-24020/23985.
Charts and data :
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