NF closed weak in last session around VAL..Buyers expected to clear 18420 early in session else probe was marked for 18370/18340-18320 staying below 18420. NF stayed below 18420 right from open and got that liquidation via b profile to probe towards 18340.Gone for clean b profile then towards close got a spike above 18420 and closed higher.
It was outside day. Volume was well below par. All session next buyers need to stay away from 18450 to move higher else overlap auction and back to PDL possible.
Solid spike into close which was emotional. Buyers of this spike in next session need to create value in / above spike to negate emotional part. 18410-18445-18488 spike zone. Spike from balanced/neutral auction is fine but today they made it possible from clean b profile hence value next important for buyers to pull up..
This spike low becomes solid swing support. For buyers next session, 18450 support to look above 18490 to get 18535/18565/18590 if sustains 18635-18650/18690 probe possible. Weak below 18440 to get 18410-18390 and quite weak below 18390 for 18350/18310/18250.
NF swing view marked for 18340/18440/18565 above 18250..Had a gap abvoe 18250 and 18440+ done already..18340-18370 pivot of the week held today despite weak close in last session. Negation to swing long now moves to 18410. Once gets 18565 probe negation moves to 18450 to look for 18650-18690 next as marked in weekly view. Swing short below 18410 with 18600 negation for 18310/18240-18220 to start with.
Charts and data :
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
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