NF had a Long liquidation auction below outside day in last session. Considered weakness. Buyers needed drive above tail/PDH to sustain above such b profile.They had a open in tail zone and gone for test of VAL zone then had open test drive up which pushed higher above PDH then after all session grind ended as short covering profile with close above dPOC.Considered bullish above 19770 for 19795/19825-19840 which they done today.
Short covering profile and closing above dPOC..This POC is good from buyers and they need to defend 19800-19820 band next session and get again drive or gap as this is P profile.Failing to do so overlap possible to test tail zone at low.
2nd day of auction into outside day profile of last week expiry trend day. Auction looks incomplete at high today.Likely to get more push into 27th profile range as long as staying above said band.
Weakness if stays below 19800 next session and more weakness below 19740 into buying tail.
Levels wise, above 19845 is for 19890-19910/19940 if sustains 19980/20010/20040. Failing to stay above 19920 and moving below 19860 could get 19830/19805 and weak below that for 19780/19755-19740/19715.
Charts and data :
Monthly charts
Detailed plan with references to carry forward, actionable trade hypos for next session, any importance nuance from the day and view based on weekly and monthly time frame are available to members in private blog.Above report is only part of it.
Notes :
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