NF had a normal day+nice balanced auction in previous session and expectation was to have a imbalance seesion next..Also observation was with probable island profile. Considered weak below 15860 for 15800/15780..
NF made a attempt to sustain above 15860 with small drive but failed at open and gone for a liquidation imbalane down move to 15780 today in first session..Later trend day turned into long liquidation b profile with a balance and towards close got minor spike down to close below dVAL.
Auction pointers from the day :
NF confirms island excess at top with follow through with lower value day today..It has probed first obj 15785 marked.Negation for island now at 15865 to look for 15730 and much lower till 15600-15550 staying below 15865.
It has left selling tail which negated buyers extension handle of 14th which is weakness.
NF had a good average volume today and also minor spike into close..Buyers if they want to get control then should hold day's low zone and then clear pullback high 15848 else more weakness.
Swing longs stopped at 15780 today. As mentioned yesterday, now its neutral and fresh sell below 15700 with 15820 negation to get 15600-15550 and buy above 15870 with negation at 15780 for 15950/15990/16080.
For next session for intra trades,15815 resistance for open and above that could test 15840/15860 and bullish above 15865 for 15895-15905 and quite bullish above 15910 for 15935-15950/15990.
Failing to sustain above 15840 could test 15800/15770 and weak below 15770 for 15745-15730/15705..If sustains below 15695 then could get 15650-15630/15590/15550.
Summary and plan :
Charts and data :
Detailed plan with references to carry forward, trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members via private blog.
Notes :
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