NF on Friday had a balanced profile with narrow range and lower volume with acceptance in lower disbn of DD uptrend day. Considered as weakness and imbalance expected next.Below 19520 marked weak for 19480/19450/19415/19365 and NF gone for trend day probing way below this then closed at low.
Trend day down with 4IB move.
Cleared below Sep low.
Good imbalance at close. 19310 immdiate res for next session.Sellers need to hold this and look for acceptance further down below PDL to get 19210/19180-19165/19125/19050.Failing to do so could have sm wild balance to upside move to test 19380-19390 which is again good resisatnce..If accepts means could test 19440 and above.
No acceptance below PDL means looking for sm good balance in this trend day range for a session or two minimum before next move.
After clearing 19690 FA, swing move marked for 19365 and then below 19365 weekly view was for probe of 19240-19200.NF gone for this move now with probe till 19240.Swing resistance moves to 19500-19530 zone from 19720. Monthly has gone below Sep low hence likely to have second disbn down with balance to downside move towards 19050/18950 holding above said res zone. Any bounce to 19440-19480 zone good to look for exhaustion/rejection to consider shorts with negation at 19540.View negates above 19540 which could push back to 19620/19690-19720 then decide there.
Charts and data :
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