NF had inside day + narrow range 3-1-3 profile back to back to sessions and imbalance expected next. Bearish hypo was below 18080 for 18020/17980 and NF had open at PDL zone below 18080 and gone for this downside probe in IB session till 17985 then had a tight balance and later got spike to close as Neutral day at highs.
Failed auction at low and neutral extreme up close with spike.
Outside day.
Price moved far away from dPOC - 45 degree move with this spike. Hence, buyers should go for value in spike/above spike to bring value higher in next session else rotation back in value area.
Levels wise (with adjustment for next month), 18240-18220 support to hold and push higher towards 18330 previous balance lower end then 18375 last week POC zone if sustains then 18420/18450/18490 possible. Failing to sustain higher and back below 18280 could rotate back to 18240-18220 if goes means 18170/18130-18120 possible.
Swing wise same neutral bias as mentioned yday. Today's auction is emotional due to expiry and expecting now last week and this week profile merged balane to take place for few sessions. 18220 swing support to remain neutral bullish for above said objectives and that goes means back to sideways to down view to get today low zone then swing low 17830.
Charts and data :
Current month data
Next month data
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 :
a) Check glossary page in website if any of the terms used in the post are not clear.
b) If images are not clear, click on them for enlarged view.
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