NF showed strength from buyers in Wednesday session after having accepted above outside day with spike close. Buyers further gone from strength to strength with large gap on Thursday and ended with higher value session closing at dPOC. Hypo A second part and Hypo B first part done from 17190 to 17375.
Pointers from last session :
It was short covering profile after large gap and gap remained open till close.
Clear acceptance in Feb value now.As mentioned in last report,Feb was well balanced month so travel in that value is what buyers could seek further as long as gap holds.
It was failed trend day and turned into short covering profile..So, better for buyers to stay away from value in next session else could get overlap or closure of gap auction in next session.
Swing has opned up 17150/17350/17500 above 16950 and probe is done now till 17350.. Negation now moves to 16950. Holding 16950 next could get 17500/17600-650 and negation moves to 17300 once 17500 probed for this view. Below 16950 could go for 16810/16650/16450/16250/16050.
Charts :
Daily
Weekly
Monthly :
Data & Hypos :
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 :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
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