NF had a FA + Neutral extreme day with spike close in last session. Staying above 18240 considered bullish for 18270/18330/18370. NF got open test drive up auction and gone for this move today till 18350 then closed at dPOC.
Short covering P profile after FA day..Well back in May month balance which was expectation post Friday auction.
Buying tail of today and wide POC are ref for next session.Buyers have to defend POC and skew higher early in session next and once done should not come below today POC..If they accept POC then test of buying tail possible.
Poor high at top today. Auction incomplete.
Levels wise not able to accept below 18320 and moving above 18340 could get 18370/18400-18410 then could rotate down to 18350/18320 if accepts there weak for 18290/18260-18240. Failing to stay below 18240 and back above 18295 could tag 18325-18340/18370/18400-18410. Sustaining 18410 possible to move towards 18440/18470..Sustaining below 18230 could get 18200-18180/18140-18130.
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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