NF had long liquidation profile after negating FA at top and closed above dPOC on expiry day.Holding above 25520 expected squeeze else retest of PDL zone and below expected.NF had a open drive down below 25520 at open which failed to hold and quickly moved above 25520 in IB itself which lead to short covering all day and closed at high.Above 25520 marked for 25640 and above and NF made a move well above that.
Short covering profile above 4 days composite.
Solid double print tail with good volume.This tail becomes swing support.
dPOC skew higher into close.Drive or gap and once done defend POC else sm overlap possible.
Swing could get 25875/26040 as long as holding 25520.
Weekly :
NF had 3 weeks of overlap. Considered 25280 as support and 25465 as resistance to start the week to look for balance.Above 25465 expected 25525/25640 then pullback marked. NF played the week between 25300-25520-25630 first 4 days and last day got squeeze higher to get 25800.
3 weeks balance resolved higher with volume which makes 25450 POC of week solid support to look for balance and skew higher..Either get 25875/25950/26040 pullback for balance or retest 25700-25650 zone hold around then slow skew higher towards 25800/25875/25950/26040 possible..Staying above 26050 could lead to spike towards 26200 zone. Weakness below 25450 for 25375/25310 bounce else 25220/25140-25120.
Monthly :
Holding 25100-25200 Sep expected to have balance and skew higher towards 25600/25750/25900.It moved towards 25800 now. Support on monthly moves to 25300. Upside could stretch towards 26040/26200 if sustains 25900 next. Once moves above 25900 support moves to 25450 on monthly.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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