NF left a poor high with ledge at top suggesting exhaustion on Thursday. And observation was that NF left solid poor value area hence if gap + tail of 10/03 was held then expected repair of such poor value area. NF gone for this repairing poor value area all day then closed at dPOC.Hypo A played out from 16610 to 16690.
Auction pointers from 11th Mar session :
NF printed inside day.
It was normal day i.e, all day auction inside IB range and no extension..
Both info suggesting exhaustion continues. Despite strong drive inside value area, NF failed to sustain above IBH and remained inside value area of previous session.
NF repaired poor structure of profile from Thursday and closed at dPOC of the day as well as two days composite..Mostly could get the direction based on open as I see not much of commitment from the session. Thu was used to book old inventory and Friday day auction is muted with data and structure..So, likely to make a move based on next session open auction.
Gap and tail zone from 10th held and another buying tail is left at lows..Buyers should defend this next session to get follow through higher..Accepting tail could go for gap close then further acceptance could go for repair of 09th profile.
Swing view same as mentioned in last report. Large range of 16240 to 16750 needed repair in which till 16550 repair done now in Friday session…Based on this gap+tail zone, we could decide if lower part repair they are going for or we move higher..
Charts :
Daily
Weekly
Monthly :
Data & Hypos :
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 :
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b) If images are not clear, click on them for enlarged view.
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