NF had a bell balanced profile last session which was likely to deliver imbalance next.NF had a open auction in yday value area then gone for double disbn up day in first session but failed to defend extn handle, which lead to liquidation move to clear IBL and PDL then closed below dVAL.
Outside day stopping 6days one time frame up.
Poor high.
Neutral extreme down day and large buying tail at low.
Data wise no committed supply at close and sign of just clearing intra longs. Outside day + failed DD day also.All this suggests likely to have balance for a session or two. Especially for next session could have some wild two way balance filling today liquidation range defending buying tail. Accepts buying tail means more liquidation.
Once cleared ATH, swing was expected to get 23150-23200 zone holding 22850-22880.This job is done and giving sign for some balance. Roughly 22850-23200 zone to look for balance now.
Levels wise for next session,23040-23060 resistance to start the day..Holding this zone could have fill till 22980-22970 if sustains then 22945-22935 bounce else 22900-22890 possible and more weakness below 2880 for 22850-22835/22805-22790. If fails to sustain below 22950 and stays above 22990, could get 23015/23040/23065 bullish above that for 23090/23120 then pullback and later sustains means 23150/23190-23210.
Charts and data :
Notes :
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