NF had a long liquidation day ending with large spike down in last session. Not staying below spike low expected two way auction inside large spike zone then later above spike zone expected more bullish move till 21810/21845. NF got a drive back into spike zone after failing to stay below PDL and had sm two way auction to reach spike high then tagged till 21840 at close. Anomaly at 21790/21840 from last session profile got repaired.
Short covering profile with tail at low. Buyers need next to have drive/gap and then stay higher all session not moving back to value area..If happens then test of VAL/tail/PDL zone.
Today expected auction inside 2days range to get 3days composite auction and NF got the same now moving into event. Sustain balance high = bullish else look for overlap and test of other end of balance and look for directional move from that extreme.
Auction path for tmw,
For buyers, hold 21820-21870 to be bullish for 21935/21980 then retrace else 22025/22060/22095 and further bullish above 22100 for 22170-22190/22240. Not able to stay below 21660 and accepting above 21720 could push for 21780/21820/21870/21935/21980.
For sellers, Not able to stay above 21935-21980 band could drop to 21870/21820/21780/21730 and weak below 21730 for 21690/21650-21635/21590/21550/21520-21500 and more weakness below 21490 for 21450/21415-21400/21370/21320/21250/21210.
Charts and data :
Notes :
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