NF had triple distribution down trend day on Tuesday. With dPOC skew down close, sellers expected to defend 24190-24220 to look for more downside.They had a flat open and gone for tight open auction and could not move below PDL as well as attempt to move higher above 24220 failed to sustain and all day remained as balance then closed at dPOC.
Solid OAIR low volume narrow range balanced session.Likely to deliver imbalance next session.
Supply of Tuesday managed to deliver overlap value inside 3rd disbn of triple disbn trend day so as long as they hold below 24240 odds for another overlap to downside skew and they need to start the session early with acceptance below 24150.More they stay below this higher the odds for range extension down.
Not able to stay below 24150 could do balance between 24150-24200-24240 and squeeze possible above 24240.
Levels wise, move above 24210 could get 24235/24265-24280 and more bullish above 24290 for 24320-24335/24365-24375 if sustains 24415/24450-24465.Failing to stay below 24130 and bounce above 24165 could get 24190-24200 then above probe zones possible. Not able to stay above 24200 and move below 24160 could get 24135/24110-24100 bounce else weak below 24095 for 24060-24045/24015 if sustains 23970-23960/23920.
Charts and data :
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