Large selling tail and long liquidation auction on expiry day with auction incomplete at low at close. Based on value on large buying tail of 06/11 considered weak below 24280 for a move till 24150-24135. NF had a open drive straight to 24155 then had a quite sharp bounce then all day stayed in balance and closed below dPOC.
3-1-3 profile with tail at both ends and clean bell balance inbetween.Sustain value area = trend else overlap in value area and look for a move other side.
Selling tail of Friday makes 24305 as solid resistance.
Swing wise was expecting 24210/24135/23985 as support at 24330 failed to hold. It has probed till 24155 now and swing negation moves to 24415. As long as this holds, swing could complete rest of the obj.
Levels wise for next session, above 24305 could get 24345 if sustains 24380/24430 reject else 24475/24510/24540/24580. If fails to stay below 24130 and back above 24200 could get 24230-24240/24280-24295.Not able to stay above 24305 and moves below 24260 could get 24230/24195-24180 weak below that for 24150/24125 and quite weak below 24110 for 24075/24045-24020/23985.
Weekly :
Last week closed at lower quad.Considered 24410 as resistance to start the week to look for test of 24320-24280 zone then bounce else marked for 24150/24050/23950. This entire move they done at start of the week holding below 24410 gone to 23900 then bounced and cleared res zone 24410 which probed all upside obj till 24650.
Outside week closed below dPOC. 24305 pivot for the week. Hold this then skew down towards 24135-24100/24020-23985 bounce odds. Weakness further if stays below 23985 to get 23920/23865 and goes means spike for 23770/23665/23550/23450. Move above 24305 could get 24370/24440 reject else 24520/24580 reject else 24650 then 24730/24820-24850.
Monthly :
Oct ended as long liquidation profile closing at dVAL. Expectation was holding 24050 could balance roughly between 24050-24350-24480-24650 and considered weakness below 24000 for 23850 and below.NF moved only till 23900 then bounced back to 24650 and doing lower balance in Nov now.2nd month of one time frame down and looking for balance and skew down to continue holding 24650 to get 24020-23950 bounce and balance then later 23850/23665/23450 possible.Upside 24650 accepts means get 24800-24850 then spike to 25050-25150 pause/rejection later that goes means 25350+.
Charts :
Daily
Weekly
Monthly
Data :
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.
Comments