NF had a FA at top and lower value neutral day with sellers in control in last session. Buyers got clean tail and closed at VAH. If they are committed expected them to go for higher move holding VWAP/POC zone. NF opened way lower right around buying tail zone and gone for all day overlap session and then closed as outside day at high. Hypo D on downside got whipped in open auction and later delivered from 15820 to 15695..And upside Hypo A delivered from 15950 to 16030.
Pointers from today's auction :
NF cleared PDL but could not sustain and gone for PDH leaving outside day. Hold range = bullish ; Accept range = look for overlap.
It was another neutral day profile but neutral extreme up this time..3 days in a row neutral auction..Clear fight between buyers and sellers to control auction.
dPOC skew at close and edge with buyers..They need to defend 15940-15920 and look higher else move back to 15850/15760 again.. 15850 is VWAP of yday and today as well as POC of last two days balance too..So, could act as magnet and pivot all session if we accepts back below spike low.
NF negated FA at top from yday with a spike..So, holding spike buyers could control else, with outside day and neutral days happening, we are in for a next balance for few sessions.
Spike up close with 15935-16030 as spike zone..Spike rules apply for next session. Hold Spike zone = bullish ; Give up = weakness.
NF had a clean buying tail yday which got cleared today and left another small buying tail at low..Not good enough to call for a swing low..So, same view as mentioned yday.. More, we accept 15850 higher odds to get 15600/15450.Incase of move higher, could look for exhaustion/rejection in 16050-16200 band to rotate down to test 15850/15760/15600/15450. Till 16250 is cleared , no long bias on swing.
Kindly refer plan for tradeable hypos for next session
Important nuance : yday and today we got huge volume than average, close to 180-200 lacs both days..If we are not getting higher follow through but accepting below spike early in session means, day could have heavy chop via wild wide range till mid session atleast if not for entire day..So, be nimble on size and trade one side..We have lot of anomalies left in today's upmove, so such wild chop could happen to repair them back if no follow through away from outside day.
Kindly refer below table for tradeable hypos for next session
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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