NF printed short covering profile in last session and large buying tail considered as support for next session. They tested tail in IB and got open rejection reverse up move to clear PDH in first session then gone for all day tight balance then closed at dVAL today.
2days composite P now holding large tail at low and seen exhaustion at top. Likely to make a balance now.
Not able to scale 25075 early in session could get value overlap and test PDL zone/yday buying tail fill and then buyers shows up in tail means later could bounce back higher.
24935-25015-25075 roughly for balance now and staying below 24935 is weakness to clear entire tail zone from yday.Squeeze if sustains 25075 for a imbalance move.
Two good support mentioned for buyers on swing.24990 then 24840. First support they held today. Same view that as long as 24840 not violated, upside is open towards 25110/25175/25250-25290. Only on acceptance below 24840,we could look for repair of last week profile.
Levels wise for next session, not able to stay below 24950 and moving above 25015 could get 25050/25075 bullish above that for 25105/25135/25175-25195 if sustains 25210 then 25240/25280-25295 possible. Not able to stay above 25070 and move below 25030 could get 25000 weak below that for 24965/24935 then bounce else more weakness below 24925 for 24895/24865/24840.
Charts and data :
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