NF printed solid 5IB double distribution down trend day on expiry.Above 24200 marked for 24260 no rejection means move expected up till 24350 then rejection expected..NF moved towards 24365 then closed at dPOC.
Short covering day.
Inside day.
Mechanical auction by buyers with four outside bars and with dPOC close on SC day hence they must need to defend 24290-24260 and get drive/gap and once done should not accept back in value.If accepts in value then overlap and test to VAL and PDL zone.
Levels wise for next session, if fails to stay below 24250 and moves above 24320 could get 24360 bullish above that for 24390-24410/24445/22480-24495 if sustains 24535/24560-24580/24615-24630.Not able to stay above 24410 and moves below 24320 could get 24290/24265 weak below 24260 for 24225/24175/24125. Quite weak below 24110 for 24080/24050/24010/23970/23930-23910.
Weekly :
Lower value week closing at high with high volume day last week. 23820 marked as minor support and 23750 major support for the week. Upside marked for 24200 and once sustains above 24200 move towards 24280-24320/24395-24415 rejection expected. NF moved till 24380 then rejected to test support zone 23820 then bounced and closed at highs.
Higher value week and 24250 pivot for the week. As long as holds this, upside could move towards 24390/24460-24480 reject else 24560/24630/24700 if accepts then 24800/24900.Rejection above 24450 could test 24340/24250 weak below that for 24175/24110/24040/23960-23920 bounce and 23900 goes means 23800/23660/23560.
Monthly :
2nd month of one time frame down on Nov but closed with dPOC skew higher. Job for buyers to get early push higher in Dec first week holding 24250. Upside open for Dec towards 24450-24500 reject else 24650/24800/24900 then rejection possible. Staying below 24250 could get 24100-24050 bounce else 23850/23750 and weak further towards 23550/23300/23150/23050/22850.Staying above 24900 could easily spike to 25100/25250/25350.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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