NF had a short covering profile in last session.Considering nature of composite and exhaustion around 23450 zone all week, buyers if wants to have follow through they needed gap or drive up. They got a gap up today and got a open drive in IB then all day remained inside IB then closed above dPOC.
Gap up and buying tail above weekly composite. 23450 becomes swing support.
Normal day inside IB range. Selling tail top. Since buyers able to hold gap and closing above dPOC, odds of clearing this selling tail next to get move higher.
23540-23560 immediate support for next session for buyers and once get push higher above value area they need to defend value area all session else overlap and test of buying tail odds.
Levels wise for next session, move above 23580 could get 23615/23640 if sustains 23680-23690. If fails to stay below 23525 and moves above 23555 then could probe 23585/23615/23640. Not able to stay above 23640 could balance between 23580-23640 and later stays below 23580 could get 23550/23525-23515 and weak below 23510 for 23480/23450/23420.
Charts and data :
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