NF had a lower value below average volume session closing at high in last session. Close had edge with buyers but it had a gap down below weekly support zone 15720 today. It could not sustain the gap and gone for all day squeeze higher then closed at dPOC.
It was failed trend day..Last hour failed the trend move to close at dPOC..One of the weakest move today data and auction wise.Buyers next should defend 15750-15720 zone and look for move higher to 15860 then should create value higher above 15860 for any rally in next session..Failing to do so, could fill 15860-15700 zone.
15700-15950 filling was required..Today despite breaking 15700 gone for this move..Buyers mechanically defending 15720 zone now hence important for them to defend that all session tomorrow if they still got the agenda..Acceptance below this could get liquidation.
3rd day of one time frame down and all three days marked lower volume than average..Its buyers job swing wise to sustain higher holding 15720 to get upmove from here..Another session of overlap and later 15720 goes means swing down opens up for 15650/15600/15450/15350.
Auction wise low conviction environment as of now especially for upside..Its clearly evident that market being held mechanically and trapping players. Buyers need lot of effort in the way of initiative move to get away from this zone..Failing to do so, looking for strong liquidation in 2-3 sessions.
Charts & 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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