NF had selling tail and long liquidation profile closing above dVAH in last session.Buyers needed to start accepting in selling tail for a push higher..They gone for drive up with volume then all day pushed with squeeze then closed at high.Marked for 21820 above 21670 and they gone for a probe well above 21820.
Large buying tail.
Short covering profile with dPOC skew at top..Advantage buyers close.21840-21900 strong weekly res zone to rotate down and today despite having many attempt from supply in upper quad, they failed to rotate down and given whips then closed at high..So, what buyers need next after such dPOC skew close is to get drive/gap and once done dont accept back in value area.
Today's profile need a repair till 21760/21695.As long as holding 21840-21865 zone this repair could wait..If accepts below this band then could look for this repair to take place. Expecting this repair to happen max in 2-3 sessions.
Levels wise for next session, move above 21885 could get 21920-21935/21970/21995-22005 if accepts above 22030 then 22070/22115/22150 possible. Not able to stay above 21980 could drop to 21920/21870 if accepts 21845/21820 and weak below that for 21785/21755/21720/21695-21680.
Charts and data :
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.
Comments