Neutral extreme up day closing at high in last session after having FA low.Not much of commitment seen from buyers at close hence needed to stay above POC next session with buying intent else test of extn handle and lower levels expected..They had a flat open and open test drive move for IB period which held above extn handle and then had two way auction around POC with again less buying intent in first session.Then got initiative buyers above IBH who got clean extn higher and closed at upper disbn/dPOC.
Double distribution up day stopped 5days of one time frame down also negated old FA at 22230.
Buyers of today got dPOC skew higher at close..Job of them for next session is to defend 22275-22300 all session and stay higher..Upside,we have strong resistance 22385 which is POC of triple disbn trend down profile of last week + developing POC of 5 weeks of this ongoing range since Mid of Apr i.e, 21815 to 22850 to 21900 to 22350 range POC also sitting there. So, acceptance there should be job of today's second disbn buyers next. Not able to sustain above that could go for overlap session between 22385-22275 roughly and whichever gets cleared later could give directional move.
Levels wise for next session, move above 22350 could get 22375-22385/22425-22435 if sustains 22475-22485 possible and any spike means above 22505 for 22535-22550/22580-22590. Not able to stay above 22380 could drop to 22310/22275 weak below that for 22240-22230/22190-22180/22140 if sustains 22090/22050-22040/22005-21995 possible.
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