NF had selling tail and double print buying tail in last session.Not able to stay above 17690 marked for 17630-17620..They managed to get till 17635 in first session and failed to move further then bounced above 17690 with squeeze to get spike close higher.
NF stopped 5 days of one time frame down with good volume session today.
Failed auction at low.
Neurtal extreme up day with with spike close. Lower disbn of today now good swing support i.e, staying above 17665 now auction control is with buyers..Short squeeze yet to happen fully and still some shorts are in system and they are not ready to wind up. Drive or gap with volume needed to clear them early tmw..Else, they may pull this down once again to test today lower disbn zone and then decide there..
Buyers on other hand should defend upper disbn above 17710 and get overlap value in upper disbn first to pull value higher then extend higher later or better get gap/drive up to start the session to move towards 17810-17830/17860-17870.
Levels wise,failing to stay below 17720 and acceptance above 17755 could get 17780/17820-17830/17860-17870 and above.Failing to stay above 17850 could drop back to 17770/17740 if sustains 17710-17695/17665 possible.Quite weak below that for 17635-17620/17590.
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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