Failed auction at top and neutral center day with dPOC skew down on expiry day.25175 considered as res and sellers expected to sustain below 25110 to get 25080/25050/25015.NF had a probe to 25050 zone then bounced but could not sustain IBH and clear 25175 and all day gone for chop down to get 25015 and below then closed at dPOC.
Long liquidation day.
Inside day.
5days of clean balance now after high volume days of liquidation earlier.Likely to resolve down further after this balance.
For next session,staying below 25010 next expecting 24985/24950 bounce else 24915/24885/24850/24820. If moves up first then failing to stay above 25140 and back below 25080 could get 25050/25020-25010.
Not able to stay below 24980 and back above 25050 reject else 25080/25115 and bullish above 25125 for 25155/25190-25205/25240-25250 reject else 25295/25330-25350+ possible.
Swing move marked for 25015/24940/24850/24740/24665.Probe at 25015 done.Negation moves to 25250 from 25350.
Weekly :
Last week cleared two weeks low and 25475-25525 became resistance for the week.Was looking for either balance below this then range extn down or one more push down then bounce towards this res zone for the week. They pushed down at start of week then bounced till 25350 then remained in balance.
Bell balance lower value on weekly after high volume wide range liquidation week = weakness. Looking for partial balance to start the week then extension down or one more week of overlap the range extn down. Levels wise, 25160 immediate resistance to get 24950/24850 zone then bounce then later staying below this could get spike to 24740/24665/24560/24440. Failing to stay lower and clearing 25160 could get 25240/25320-25350 reject else 25440/25520 then come down.Tough to clear 25500 zone on first attempt. If accepts with volume then 25620/25750/25840-25870. Buyers get relief on weekly time frame only above 25500 acceptance.
Monthly :
Oct started as long liquidation month and below 25050 expected 24900-24850 which it has probed and doing balance at lower quad as of now.25700 tough to clear as of now for Oct.Looking for more balance and skew down towards 24850/24675/24400/24250 for Oct.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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