Gap down and long liquidation profile in last session with incomplete auction at low. Considered quite weak below 22670 to lead to another round of good liquidation. NF had open test drive down today again with volume below 22670 and downside obj marked till 22525-22515..They probed till 22415 then bounced to close at dVAL.
Another gap down and large selling tail session.
Large liquidation cleared last week low to print outside week.
3rd day of one time frame down.
Good bounce into close leaving large tail at low..This tail should hold early in the session and accept above 22680 then we could see a move towards testing selling tail then balance in tail to look higher to close gap..Rejection in tail and back in value means good overlap possible in first session..Weakness if stays in buying tail and tail goes means one more elongated profile downside possible.
Levels wise for next session,not able to stay below 22610 and moves above 22650 means possible to get 22680/22720/22750. If sustains further above 22770 then 22810/22840-22855 reject else 22890/22930/22980 probe. Not able to stay above 22780 and moving below 22720 could get 22680/22635/22600 and weak below 22595 for 22565/22530-22520 if sustains 22475/22440 probe and more weakness below 22430 for the probe of 22390/22360-22345/22305-22295.
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