NF left a buying tail and accepted in previous selling tail in last session with buyers in control. Though they had higher vlaue, it has left some mechanical refs and poor value area hence failing to get gap/drive away from value area expected to have overlap session to repair poor value area. NF opened inside value area and gone for overlap first session.
Failing to sustain below 15760 and accepting above 15800 expected to test 15845/15870/15895. NF did not trade below 15760 in first session and gone for 15870. Failing to sustian above 15845 expected to drop to 15800/15760 and this happened towards closing and closed below dPOC.
Pointers from day :
15830-15845 zone mentioned as resistance for NF..This got violated but could not accept and left tail above this. This 15845-15860 zone now resistance for immediate next session.Staying below this sellers could be in control.
NF left a 3-1-3 profile today with buying tail at low and double print tail at high (double print tail = we dont have single print but auction is two tpos where one way up and one way down.Price not staying for long time to create value hence becomes selling tail with two tpos). Accepting tail zone = trend ; failing to scale/sustain tail zone = probe entire value area for next session.
Close was not favour with buyers as overlap value day failed to sustain above PDH and gone for close below dPOC with double print tail at top.Buyers should defend buying tail in next session and should look for acceptance in double print tail at top else could look for auction to take place further down probing back into 28th value.
Swing wise 15860 resistance and 15750 support now..Swing long above 15860 with 15750 negation for 15950/16020/16100. Swing short below 15750 with15860 negation for 15650/15540/15450.
For next session, 15845-15860 resistance zone..Acceptance above 15860 could test 15895-15910 and quite bullish above 15920 for 15950/15990.
Failing to sustain below 15710 and accepting above 15795 could test 15820/15845-15860.
Failing to sustain/scale above 15845 could drop to 15810/15785/15760 and weak below 15760 for 15730/15690/15660 if sustains then quite weak for 15620/15590/15545-15535/15450.
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