NF had 3-1-3 profile closing at lower quad in last session suggesting weakness. It has opened at selling tail zone and could not sustain.Failing to stay above 19870 expected to drop back to 19840/19810.It has moved down till 19825 to tag POC then remained in right range and later got spike up.Above 19875 marked for 19910/19935/19965 and NF has this move till 19955 in last hour via spike then closed at high.
Failed auction at low.Solid ref for remaining days of Nov now.
Neutral extreme up day negating excess tail at 19930. Spike up close. 19890-19950 spike zone..Stay in/above spike zone = bullish and below spike zone weakness next.
19920-19900 support band to start the day next for buyers to balance in spike zone then look for move higher further.
Swing short view negated at 19930 and probe upside now opened up for 19980/20030 with 19870 negation. Once moves to 19980 negation moves to 19905.
Levels wise for next session, not staying below 19920 and moving above 19950 could get 19980-19990/20030-20050 if sustains 20080-20090 possible. Not able to stay below 19890 and moving above 19920 could get 19950/19980-19990. Failing to stay above 19990 and moving below 19940 could test 19910/19880/19855 and weak below that for 19820-19810 if sustains 19785/19760/19735/19710 possible.
Charts and data :
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