Normal day and inside day for NF in last session hence imbalance expected next.Trending move expected once buying tail or PDH cleared.Considered weak below 23770 for 23705-23695 then later below 23695 marked for 23595-23575.NF got accepted below 23770 at open to get get 23705 then later moved below 23695 to get till 23595 then bounced to fail DD down day and got IBH swipe and closed around dPOC.
Neutral day with value lower.
Failed trend day and at close observation is that no inventory being carried by buyers despite such move to highs.They cleared weak shorts at close.
As discussed in commentary, expecting retest of today's lower balance in next session as long as no acceptance above today's profile.If clears PDL then liquidation odds.
If fails to accept in lower distribution of the day then could see two way auction to fill value area or if accepts selling tail of the day then could see squeeze higher and once done should not come back into value area.
Swing lows getting weaker and likely to move towards 23650/23575/23525/23445/23335/23200 in coming sessions with negation at 23950.This gets triggered with a move below 23725.
Levels wise for next session, move above 23845 could get 23875-23890/23925 bullish further above 23955 for 23985/24015-24030. Not able to stay below 23650 and moves above 23725 could get 23760/23795-23810/23845. If fails to stay above 23875 and accepting below 23810 could get 23770-23760 weak below that for 23725/23695/23660-23645 bounce and later sustains 23640 could get 23610-23595/23545-23525 if sustains 23480/23445 odds.
Charts and data :
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