NF left poor auctioned zone of 21945-21990-22025 on expiry day then closed at high. It then had gap up next session and held gap all day to auction higher then closed below dPOC.
Narrow range lower volume balanced session.
Volume and data wise no commitment all day.Odds of imbalance next.
2nd day of one time frame up after large outside day.
Gap up and higher value day.. Buyers need to defend value area and push higher next else overlap to skew down to close gap then repair poor auctioned zone of expiry day.
Levels wise, failing to stay below 22020 and move above 22095 could get 22125-22140 and bullish above 22145 for 22170-22180/22220-22240/22270/22305-22310 if sustains 22350-22370 possible. Not able to stay above 22180 and move below 22120 could get 22080-22070 and weak below that for 22045-22025/21995-21985 and quite weak below that for 21950-21945/21920/21885-21870 if sustains 21830/21790-21780 possible.
Weekly :
Last week closed as inside week with poor value area and closed at dPOC and also closed at two weeks balance composite POC.Holding POC zone 21810-21780, expected push higher and goes means 21720/21650/21575 and below expected.NF cleared weekly pivot at start of week to get 21720/21650 then bounced but failed push higher above weekly pivot i.e, POC zone which lead to new low at 21600 then bounced to other end of last week high then closed higher above dVAH..
Outside week closing above dVAH. 21980-22020 pivot to start the week to get 22180/22240 if sustains 22300/22360 possible. Weak below 21980 for 21920/21860/21810-21780 then look for bounce else 21720/21665-21650 and 21650 solid support for the month now. Goes means 21525/21400.
Monthly :
Monthly started as trending profile then started showing signs for clean bell balance by end of last week auction. As of now monthly profile staying as clean bell balance and 22800 now pivot for the month.. Buyers should look for initiative move above 22180 in current week to ditch this bell balance and move higher towards 22350+ then may be pullback. Failing to do so could go for mean reversion move back to 21980-21940/21830-21780 bounce else 21700-21650 possible.
Charts
Daily :
Weekly :
Monthly :
Data :
Notes :
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