NF had a large spike up close in last session.Buyers job next was to stay above 21780.As the spike size was larger,not able to sustain above 21780 expected fill back in today's spike zone..NF had a gap up but could not sustain the gap/21780 and entire session gone for filling half of spike zone then towards end closed spike and rejected from spike low to close at dPOC.
3-1-3 profile today with tails at both ends..Sustain value area = trend ; reject value area extreme = move to other end of value and look for trend that side.
Balance which is going on almost coming to end..Max session or two we could look for directional move away from this balance.
Swing same view that holding 21570 this could head higher towards 21810/21870.
For next session, staying above 21700 buyers could go for directional move higher..Not able to sustain 21700 could drop to today buying tail zone and acceptance there could push down.
Levels wise for next session, move above 21700 could probe 21730-21740/21770/21810/21835/21870. If moves down and fails to stay below 21620 and staying above 21670 could test 21700 then above said probe zones possible. Not able to stay above 21720 and moving below 21685 could test 21660 and weak below that for 21635/21610-21595 and quite weak below 21570 for 21545/21520-21510/21480/21440/21375.
Charts and data :
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