NF had outside day auction in last session. Sustaining range was considered momentum for next session. And it left secured high at ATH and also got buying tail at low. This tail at low if fails to clear 17900-17920 band and giving up means then expected probe back in 23rd trend day profile as it has already saved twice and third time means expected probe in that profile.
NF gone for this move of probing 23rd profile today. Failing to sustain above 17910 and back below 17880 probe was for 17775 then below 17770 probe was marked till 17690. NF made a 3IB + down move till 17590 today via clean trend day then towards close negated trend day and closed below dPOC.
Pointers from today's auction :
NF had a selling tail and had a good momentum below outside day range via clean trend day till last hour..But last hour gone for negating trend day with clean bounce closing morning extension singles. Immediate reaction after such solid trend day negating intra day itself is to look for wild chop balance in next one or two session. Roughly 17820-17620 range to look for such balance now.
Buying tail at low should hold for above said view to take place else more liquidation possible from longs.It already cleared 23rd trend day fully..Failing to hold this buying tail of the day could next move to probe 21/09 trend day profile.
17620 was good buyers ref as weekly extn handle which got negated today but later got bounce. This ref if started accepting again then its weak for buyers in coming sessions..
For next session,holding below 17780 could drop to 17720 and weak below 17720 for 17680/17655/17620 and quite weak below 17610 for 17580/17555/17530-17510..If 17490 goes then 17450-17440/17410 probe possible.
If fails to sustain below 17620 and back above 17680 could move to 17720/17750-17770.
Bullish above 17780 to get 17820/17850-17870 if sustains then 17910/17945 probe possible.
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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