NF printed normal day profile with poor high on Wednesday. Buyers had to sustain above POC 22180 early in session to move towards 22260 if sustains more bullishness till close expected..upside levels marked till 22420 for such move.NF had a slow drive reaching 22260 early in A period itself then remained as spikey trend day to get 22520 then failed to sustain and moved back to buying tail test and closed below dPOC.
Failed trend day.
Buying tail at low. Selling tail at top.
Looking for balance in next session inside value area of this failed trend day as long as stays in between buying tail and VAH..Sustaining value area high could be bullish and failing to do so could go for overlap between value area..Acceptance in buying tail could be weak.
Levels wise,failing to stay below 22440 and move above 22490 could get 22520-22530 and further bullish above 22540 for 22575/22600-22610 then reject else 22645-22660 and above that 22690/22720-22740 possible. Not able to stay above 22580 and moving below 22540 could get 22510-22490/22460-22445 and weak below 22440 for 22415/22375/22350.Quite weak below 22340 for 22310/22275/22245-22230.
Weekly :
NF cleared extn handle of DD down weekly profile and closed at upper disbn last week.Holding 22040 expected overlap in upper disbn with a move back higher to 22220-22260 then above that marked upmove till 22410 and no rejection means 22460/22540 expected..They stayed higher above 22040 and cleared till 22520 then closed at VAH of the week.
Elongated profile closing at dVAH for this week..Immediate expectation for the week is to have balance roughly between 22350-22440-22570-22650 and staying above 22650 is for 22740/22850.Weakness below 22350 for 22280-22260/22200-22150 then bounce else 22090/22025.
Monthly :
Mentioned last week that remaining days of March to trade between 21950-22400 and above 22400 odds of spike to 22540/22650. They moved to 22520 then closed as DD month above dPOC..5 months of one time frame up and considering structure of Mar looking for sm overlap profile for Apr into Mar value area as dent of Mar DD expecting a fill back..22450 pivot for the month.Hold that then we could push higher towards 22540/22650/22750 then reject else 22850.Not able to stay above 22600-22650 could fall back to 22450/22350/22260/22090-22025.
Charts and data :
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