NF had a bullish close structure and data wise after having short covering auction in last session.It has opened today way lower right into buying tail zone. Considered weakness below 21690 to get new low and then not able to stay below 21720 and moving above 21780 expected move back till 21845/21945-21960 as that hypo was for travel back in entire composite of last 3days as well as Feb. NF cleared PDL then failed to stay below 21720 in second session and moved above 21780 to probe till 21950 then closed at high.
NF today travelled through value of entire Feb composite in making..Such move could again lead to few more sessions of balance.
4IB up day.
Sellers failed to push down below large balance in making which makes 21650 quite solid visual support for the month now.
Large spike close. 21830-21890-21950 spike zone.. and 21960-21975 good supply zone from previous auction..So, buyers need to accept above this early in the session to move towards 22010-22035/22070-22080/22130/22180..Any rejection higher or not able to scale above 21975 and staying below 21920 could fill spike zone with a probe back to 21880/21850/21815 then could bounce for two way auction.Major weakness below 21780 to move back to 21750/21725/21680.
Charts and data :
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