NF had a long liquidation profile with good volume and 3IB down day move in last session.18275 was kept as resistance..NF had a open above this but failed to scale PDH/swing res 18330 and stayed below that in IB period..Not able to stay above 18320 and scale below 18270 marked for 18235/18190 if sustains then 18150-18140 expected.NF gone for this move all day and swiped PDL with 18150 probe then closed at dPOC..
Almost a inside day with selling tail at top and buying tail at low..
dPOC skew down at close with dVAL..Sellers advantage..They need to get drive/gap else could look for another session of overlap atleast in first session..
Swing wise same view as mentioned yday..one or two session balance expected saving yday low then more range extn down suggested..Clearing yday lower disbn adding conviction to this view of more downside..Overlap of one session done today..Another session possible to have overlap before moving down if sellers dont get follow through down next session early..Same 18330 negation for the view of this range extn towards 18050 and more..
18200 good res for next session..Accept there could move to 18235/18270 and further bullish above 18275 for 18300-310/18340/18370. If fails to sustain above 18200 and moving below 18165 could get 18135 and weak below that for 18110/18070 if sustains more weakness for 18040/18010/17965/17935.
Charts and data :
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 :
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