It was neurtal extreme down day and also double disbn down liquidation day in last session.For next session if not able to capture and sustain in upper disbn expected liquidation.NF at open tried to test that upper disbn above 18350 which failed and gone for liquidation in IB itself then all day spent in balance and then closed at dVAH zone.
Normal day if we skip that small push in closing hours above IBH..All day spent in IB range to deliver bell balanced profile then closed around dVAH..Possible for imbalance session next..
18320 now becomes solid POC zone..Sustain that and move higher is the job for buyers and once done never come below that..Failing to do so and sustain below that then we move down.
Another quite lower volume session..Upside rally odds quite difficult with such volume and wide POC in making and buyers need some solid drive with volume else we may not have such rally from this structure.
Levels wise for next session, failing to stay below 18300 and move above 18325 could get 18350 and drive above that good for 18375/18410/18440. Failing to stay above 18350 and move below 18320 could get 18290 and weak below that for 18250-18240/18210-18195/18165.
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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