Long liquidation profile closed at dVAH in last session with data favouring supply..Expected imbalance session next either with squeeze of this supply or move back to PDL zone..Above 20210 probe marked for 20240/20265/20310. Squeeze didnt happen as expected though as ended as balanced profile after probing 20265.
11th day of one time frame up.Some exhaustion seen in the form of balance with narrow range and lower volume day.
Too long structure wise and this exhaustion could lead to balance for few sessions when buyers next fail to sustain above this balanced profile.
Swing obj were marked for 20250/20400. First one done..Swing support same 20090.If this continues further with a move above 20250 without any balance then it could be kind of slow dragging moves till 20400.
Levels wise for next session, not able to stay below 20190 and move above 20235 could get 20270 and bullish above that for 20310-20330 if susains 20365-20375/20400 possible. Not able to stay above 20260 and move below 20220 could get 20190 and weak below that for 20160/20135-20125 if sustains 20090/20065/20040 possible.
Weekly :
NF had a spike close last week. Value above 19920 after such spike close expected to get 20100. NF made this move straight then paused a bit around 20150 then got another extn higher to 20250+ and closed at highs.
Triple distribution week and closed at highs. 20120-20090 band solid support now. Either balance between 20090-20270 or one more push higher above 20270 towards 20330/20400 kind then move back to 20120-20090 expectation for next week. Need lot of effort to push higher above 20400 without balance..If clears 20400 after a balance then move to 20550-20600/20700 gettable. Weak below 20090 for 20040/19990/19965 max then bounce possible. Anything below 19965 could get 19875-19850.
Monthly :
No reaction from 19940 means expected shot up higher towards 20100 on monthly profile and NF moved way above that till 20250 now..dPOc for the month still at 19650..It has ran too much away from dPOC. Max 20400 then looking for balance with a move back to 20040 kind then could chop between 20000 to whatever high is made..Anything above 20400 means could get 20600-20700.
Charts
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Weekly :
Monthly :
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