NF had outside day in last session and buyers not defending 19700,repair of last session elongated profile expected next. Two way wild whipped auction was expectation..They failed to hold 19700 and gone for such wild two way auction in ABC period but post that extn down became clean one via triple disbn profile which cleared PDL and gone for close at low.
Outside day.Back to back outside days now.
Triple distribution down trend day.
Rare to see big directional move after such back to back outside days. Good pullback to repair zone till 19720-19760 minimum better now (adjusted Oct series level). For this buyers need to defend PDL zone and accept above 19665 early in the day..Once this is done then we could look for again whips and chop to get a repair to above said zone minimum.
Swing resistance now moves to 19760-19790 zone..If this zone clears then one rally possible higher towards 19920 kind then decide there.
FA zone of 04/09 tested today..If we start accepting below today low then good liquidation towards 19520-19480 and more possible.
Levels wise for next session, acccept 19665 to get 19690-19710/19735/19760 if sustains then 19795/19820/19870 possible. Failing to stay above 19720 and move below 19690 could get 19665-19650/19620 and weak below 19610 for 19580/19555-19540/19510/19480-19465.
Charts and data :
Current month
Next month :
Notes :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
Kommentare