NF had a 3IB triple distribution up trend day on Thursday with 8th day of one time frame up. After such day odds were there for reverting for balance in a session or two. Considered weak below 19940 for 19895/19855/19815/19770. NF started accepting below extn handle of 3IB day in last session then all day met with pressure and gone for PDL swipe and probed till 19730 then bounced to close at dPOC.
NF negated strong 3IB trend day and stopped one time frame up of 8days.Sign for balance/reversal on daily time frame.
Volume printed as highest for the month. As long as no acceptance above selling tail of last session likely to remain in sideways to down to make that second disbn on monthly.
Rally of 90 points into close at dPOC where we had dPOC skew down at close..Buyers if able to sustain above this rally high 19825 then push higher possible in next session else move back to buying tail test if sustains there then one leg of liquidation possible.
Levels wise for next session, move above 19835 could get 19870-19885 if susains 19920 and more bullish above 19930 for 19960-19970/20010.Failing to stay below 19760 and move above 19810 also could get 19835/19870-19885/19920. Not able to stay above 19920 and move below 19860 could probe 19820/19790-19785/19760 or failing to stay above 19870 and move below 19820 could get 19795-19785/19760 and weak below that for 19730-19710/19675/19650/19625.
Weekly :
Back to back bell balanced weekly overlap profiles we had at close of last week. Considered 19545 pivot for the week. Staying above that upside probe was marked for 19650-19665 if sustains then move towards 19720/19765 expected. If accepts 19765 then 19840/19920 probe expected. NF gone for this move as one time frame up in this week to mark high till 19980 then moved down to close around dPOC of the week.
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.
Charts :
Daily
Weekly
Monthly
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 :
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