Buyers were seen in yday auction and close was with advantage to them.Holding 19370 push above 19395 expected from them to get 19460 and above..They managed to defend 19370 support and stayed higher above 19395 but failed badly to clear PDH all day, came down to swipe IBL then closed at dVAL.
Heavy poor high and weak high at PDH.
Volume lowest in months.No demand day.
19370-19380 support and buyers have to get early push higher in next session to clear PDH and stay higher..Failing to do so, fall back to 19335/19310 zone then decide there for bounce back or more liquidation.
6days balance now..Range and value shrinking..Likely to deliver imbalance move in a session or two.Since we have 19275 poor low/today poor high then 19505 earlier weak/poor high, this imbalance move likely to happen within this 6days balance range kind of travel in entire balance,as long as not accepting below 19275.
Levels wise for next session, failing to stay below 19365 and move above 19405 could get 19425 bullish above that for 19450-19460/19490-19510/19535. Failing to stay below 19320 and move above 19380 could get 19405/19425/19450-19460. Failing to stay above 19460 and move below 19415 could get 19390/19365 and weak below that for 19340/19315 if sustains 19275/19250/19225 possible.
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 :
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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