Double distribution up day in last session for NF. As long as holding lower disbn of last session expected overlap in higher quad of last session DD profile then expected range extension higher.Failing to stay below 24260 and move above 24315 marked for 24340/24365 and they gone for this overlap in IB till 24355 amid lower volume.Post IB then started extension below IBL with volume which cleared 24235 as well as 24190 two support marked for the day quick..Considered quite weak below 24190 for a move till 24010 which they cleared and then went on further later to get till 23840 and closed at dPOC.
Solid double distribution down trend day.
5IB down day.
Closed large gap of last week.
Large extension singles with volume which marks 24375 (all levels in this post are adjusted for Dec) as good swing resistance.
Next session holding/not sustaining PDL could go for some fast two way auction in first session then post mid session trend could emerge or could stay as balance all day.Two res zone to watch for mean reversion down 24200-24240 then 24320-24360.If stays below PDL after sm noisy auction or with drive down then quite weak for another liquidation move.
Swing long after clearing 24380 negated at 24140 today.
Levels wise for next session, if fails to stay below 24050 and moves above 24120 could get 24155/24190 and above 24200 could get 24240-24260 reject else 24295 if accepts 24310 then 24340-24350 reject else 24390-24410/24445 Not able to stay above 24200 and moves below 24150 could get 24120/24080/24055 weak below 24040 for 24010/23970/23930-23910 quite weak below 23890 for 23845-23835/23800/23760-23740/23680/23635/23585-23560/23515-23495.24160/24135/24095/24050/24010.
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