NF had inside day and double distribution down day in last session with sellers advantage data and auction wise.Sellers expected to stay below 22610 next session..They opened in upper disbn then got open rej reverse down which rejected at POC and bounced higher to get range extn from IBH which kept higher till close then closed at dPOC.
Double distribution up day clearing all short inventory from last session.
Buying tail at low.
dPOC skewed to upper disbn at close hence buyers had to defend 22700 at start of the day and once pushed way higher have to defend 22740 all session.Failing to do so could travel down in lower distribution to get tail and PDL test.
Levels wise for next session, move above 22760 could get 22790/22825/22860-22870 if sustains 22880 then 22930-22945 possible. Not able to stay below 22680 and moving above 22720 in first session could get 22750-22760/22790/22825/22860-22870. Not able to stay above 22800 and dropping below 22745 could get 22715/22690 and weak below that 22655/22630/22600-22590 if sustains below that 22550-22535/22505/22480-22470.
Charts and data
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