NF had failed auction at top and closed at dVAL with edge to sellers in last session after neutral day. Sellers expected to get drive or gap down to travel in composite in making...If accepts VWAP means then bullishness expected for next session.NF had a flat open and failed to get drive and got open rejection reverse up auction to clear VWAP of neutral day early in session and then gone for clean range extn higher and closed at dPOC.
NF left large buying tail and created value higher above 5days composite.
It had dPOC skew higher into close then closed around dPOC.
Poor high at top.
As per all above info, buyers had edge at close as NF negated FA at top from Friday also then gone for higher value day. Buyers should go for drive or gap up next to get further follow through and failing to do so, could go for repair of today's poor value area.
Swing view suggested that need a drive or gap up to avoid overlap in composite..Today got that drive via open rejection reverse up in IB. As discussed today in commentary as well as in weekend report, auction of today above 17500 opened up swing move towards 17700/17900-18000.Negation for this now stands at 17430.Once moves above 17650 negation could be moved to 17520.
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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