Large selling tail and liquidation day cleared below 4days balance but closed at dVAH zone in last session. Expected a day or two to spend inside this balance and noticed not much of short squeeze/buying into close.So,not able to stay above 24415 expected drop back to 24355/24330 then considered weak below that for 24240-24230. NF had a higher open but could not stay above 24400 and dropped below 24355 towards 24240 from where it got a bounce to clear IBH at close then closed at high.
Neutral extreme up day.
Failed auction at low with clean tail at low.
Inside day with spike up close. 24383-24419 spike zone.
Holding 24420-24460 zone as good swing resistance expected rotation back down towards 24305/24245 and below.Today that move happened but got FA low and good buying tail from 24240.At close as per data, still shorts in system from last two days auction. Same resistance zone for next session and this band goes means squeeze could happen. If no squeeze happening and we are staying below 24380 spike low means test of 24350-24330 POC-VWAP zone of today which is good support zone after today auction. That band goes means more downside possible.Once we move above 24460 convincingly with volume, we could look for 24510/24580+ with 24330 as negation.
Levels wise for next session, move above 24415 could get 24445-24455 if sustains then 24490-24505/24535/24565/24590 possible. Above 24605 could get 24635/24670-24680. Not able to stay below 24355 and moving above 24390 could get 24420/24445-24455/24490-24505. Failing to stay above 24465 and back below 24415 could test 24385 and bounce else 24355/24330 and weak below that for 24305/24275/24240-24230 quite weak below 24220 for 24190-24175/24145/24115-24090.
Charts and data :
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