Last session was two way auction neutral day closed at dPOC with FA at top. Observation was that not much of supply into close. Sellers next expected to push below 24865 and not able to stay below 24865 but accepting above 24915 expected overlap session filling yday profile.NF did the same today.Opened around 24865 then had open test drive up quickly getting back to 24915 which pushed higher straight. Not able to stay below 24860 and moving above 24910 marked for 24945/24975/25005/25040 and they probed 25005 then met with exhaustion and gone for overlap with last session value area.
Inside day.
Lower volume session and again no supply seen at close.
2days of balance and next session no initiative move below 24850 or above 24995 then likely to stay inside this range again.
Levels wise, failing to stay below 24850 and moving above 24890 could get 24925/24950/24985-24995 if sustains 25025-25040 reject else 25080/25110/25140 possible. Not able to stay above 24940 and moving below 24905 could get 24880/24855/24825 bounce else weak below 24820 for 24790-24780/24745-24735/24705-24690 if sustains 24665-24650.
Charts and data :
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