NF had dPOC skew down in last session and got a higher open at PDH zone but could not sustain that open and got open drive down in IB.It could not sustain below IBL and all day stayed in tight range for expiry then closed at dPOC.
Long liquidation auction with selling tail.
This 23425-23450 zone turning into exhaustion zone and buyers not showing intent after good run up from low of event day. Next session buyers have to attempt with volume to stay above 23450 for trending move upside. Not doing so could drop to 23390-23380/23340-23325 then bounce for short squeeze and staying below 23325 more weakness towards lower quad of weekly range.
Levels wise for next session, move above 23415 could get 23445/23470 if sustains 23520 more bullish above 23530 for 23565-23580/23615/23640.Not able to stay below 23335 and move above 23390 could get 23415/23445/23470/23420 Not staying above 23445 and move below 23410 could get 23380 weak below that for 23350/23325 if sustains 23280/23250/23225 probe.
Charts and data :
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