NF had failed double distribution trend day in last session. Lower side support marked at 25020 and upper side yesterday upper balance marked as resistance to look for filling yesterday profile. NF at open today whipped at 25020 then chopped higher in first session. Attempt to enter into upper balance failed which pushed down to clear 25020 then got extension down to close at low.
Failed auction at top.
Neutral extreme down day.
Holding below 25010 could look for overlap in today's lower distribution later accepting above 25010 could move to vWAP/POC/High. Any follow through downside could attract buyers around 25850 to push higher to get overlap in today's lower distribution. Acceptance below 24850 time wise could lead to liquidation.
On daily timeframe, 24825-24920-25070-25165 roughly expected balance. NF still doing the same possibly another session or two could auction in the same range.
Charts and data :
Notes :
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