NF had 3IB down triple distribution trend day in last session.It got open test drive up today to have trending day in first session then turned into P and closed at dPOC.
Short covering auction which negated last session VWAP and closed part of extn singles..As volume and data neutralised yday auction today, above this SC profile more bullishness else a day or two could go for balance to build inventory before making a directional move.
Daily time frame turned into balance mode now by clearing 22260..Weekly and monthly still 22370-22400 resistance.Holding this band balance mode and weakness once 22000 goes..Above this res band good reversal towards 22540 and above possible.
For next session, good support at 22220 for buyers to defend and scale higher above 22290 which could move towards 22325/22360-22370 pause if accepts 22410/22460/22500+ possible..Weak below 22220 to get 22170 and quite weak below that for 22140/22110/22060 bounce back higher else 22020 if sustains 21965/21930.
Charts and data :
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