NF left failed auction at top and closed as neutral extreme down day.
22500 is the ref, sellers of NE down should hold for next session else squeeze and higher move odds. Not able to stay above 22500 and staying below PDL could get liquidation.
3days of balance now and likely to deliver imbalance session next.
Swing short once expected to move down towards 22450/22380/22270 and another time 22450 probed.Negation moves to 22600 now for short view on swing.
Check plan below for trade hypos.
Weekly :
Last week it was outside week profile for NF. 22600-22550 considered as good support band for the buyers to get 22700/22770 and below 22550 marked for a move towards 22460/22385/22280. They could get only 22700 and broke support at 22550 for downside probe till 22360 then closed as balanced week at dVAL zone.
22500 pivot for the week. Sellers with this close, need to hold 22500 and sustain below 22385 to get 22270 zone for any bounce and that zone accepts means 22185-22140 bounce else 22050 odds.
Staying above 22500 could move to 22590/22680 if sustains 22750/22840/22950 extreme case 23020 for the week. And anything above 23020 whenever happens in Mar could easily push higher towards 23150/23225/23320.
Inside week after a outside week hence odds there to get some directional move this week.
Monthly :
When compared to last week remarks for monthly profile projection, nothing much changed in a week. So, maintaining same view i.e, 22150-22350-22700 for balance in March and clears above 22700 could move higher towards 22850 reject else 23000/23150/23300 which is solid res zone.Staying below 22150 calls for 22050/21965/21850/21665/21450.
Charts - Daily :
Weekly
Monthly
Data :
Notes :
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