NF had almost a normal day in last session and no panic from buyers seen despite we resolved down below two weeks balance..Hence, as long as staying below 23660 expected more downside. NF got gap down and bounce could not close gap and stayed inside IB which lead to IBL swipe and clean extn down further all day then closed at dPOC.
Gap down and gap didnt get fill and remains open.
Failed auction at top hence this gap and FA combo now good immediate res zone.
Neutral center day closing at dPOC.23280-23250 res zone after such close and auction and as long as this zone holds odds to repair lower quad of today profile all day or atleast for first session and once done if sustains above 23280 then short squeeze or stays below 23120 then liquidation further.
After that whip move on 08/01 with weak weekly lows, swing down move marked below 23725 to get 23650/23575/23525/23445/23335/23200/23050..NF probed now till 23120. Negation for swing short view moves to 23600 now. As long as we stay below this, odds to balance and skew down towards 23050/23940/22875-22850 next.
Levels wise for next session, move above 23185 could get 23220/23240-23255 reject else more bullish above 23265 for 23290/23320 if sustains 23360/23395/23430-23450/23480/23510 odds. Not able to stay above 23280 and back below 23220 could get 23190/23165/23135 bounce.Weak below 23105 for 23080-23065/23030-23020.
Charts and data :
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