NF had back to back neurtal and FA days suggested weakness. dPOC skew at close in last session..Staying below 18320 sellers expected to get follow through down to get a probe of 18240/18200. NF had a gap down and bounce got rejected at POC of last session and remained down all session to complete probe till 18202 then bounced..If fails to stay below 18200 and moves above 18270 then 18300/18330-340 was marked as probe which they probed by spike at close.
Failed auction at low today.
Neutral extreme up day..
Spike up close. 18400-18438 spike zone..Stay in/above spike zone = strength else weakness and overlap into value area of today.
18240/18200 was swing wise expectation to probe after those FA tops earlier in the week and thats done today..Today's NE up day buyers if committed and not for expiry adjustment,then they have to defend spike zone or worst case VWAP zone 18360-18350 and stay higher entire next session.
Levels wise for next session, Any move to 18360-350 rejects and accepts above 18400 means could get 18435 and bullish if sustains there for 18475-18485..Next leg above 18500 for 18530-18545/18575. Failing to stay above 18500 and moving below 18420 could get 18390 and weak below that for 18360-18350 if sustains 18315-18300 possible.Quite weak below 18295 for 18265/18220/18190-18180/18130.
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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.
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