NF had a trend day down in last session with heavy volume..They opened with another gap down..Acceptance below 21570 was for liquidation towards 21475/21375/21325/21250. Gap at 21475 pushed for a move till 21325 at open then failed the drive and came up to close gap then remained as balanced profile all day then closed at dVAH.
3-1-3 profile with solid tail at low and top then all day balance in between.Buyers who have closed at dVAH have to defend 21475 all session and scale higher or open higher and accept in selling tail then move higher defending value zone of today 3-1-3 profile..Failing to do so could call for all day overlap next and then look for acceptance in buying tail at low.
Outside week.
Another session of heavy volume similar to last session. Suggesting remaining days of Jan could see sm good range moves.
Island top cleared swing support 21570 and probed down till 21325 now. Swing resistance now at 21620. Holding that overlap to down move could continue for retest of 21420-21390 then towards 21250-21200/21050 and lower in coming sessions. Above 21620 odds of 21680-21720 reject else more upside possible towards 21780/21840.
Levels wise for next session, not staying below 21520 and move above 21560 could test 21590/21620-21630 if sustains 21680/21720/21750/21780 probe possible. Not able to stay above 21590 and moving below 21540 could get 21510/21480-21470 weak below that for 21440/21410-21390 if sustains 21365/21320/21290-21280/21250 possible.
Charts and data :
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