Buyers from old gap zone delivered double disbn trend day + outside closing at high in last session..Considering DD profile and rotation factor, buyers next expected to get clean initiative move to avoid overlap profile..They got clean large gap and then again got tail and trend day move in first session then closed at high as short covering profile.
Back to back full control session by buyers. It was trend day in first session then failed trend day to close as P profile.This P now to avoid overlap auction again need drive or gap..
With back to back such trend days with RF around 15, its clear that buyers are relentless to push this harder and quicker.So,now odds are there for buyers to go for one melt up move..
As discussed today, acceptance above 16790 today opened up swing obj 17050/17130 holding 16810 as swing support now..Below 16810, we could look for probe back to PDL 16750 then yday trend day profile towards 16660/16610/16540.
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 :
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