NF left FA at low then closed with spike as neutral extreme up day on Friday.Observation was buyers had decent inventory with them at close and should use that for follow through higher next session.NF got a gap and drive and ended as double disbn trend day. Above PDH probe was marked for 17340 if sustains then upside probe expected till 17450+. NF got this entire probe in last session then closed above dVAH.
Gap up and buying tail day and this tail now becomes good swing support.17290-17320 zone.
Double distribution trend day..Second disbn happened after some mechanical support and push..Best way for buyers next is to defend upper disbn of this day and get higher follow through to avoid repair of these mechanical supports which could take place later then..If failing to sustain higher above upper disbn could test lower disbn and should bounce else test of tail of possible.
Auction looks incomplete at close at highs.
Levels wise, failing to stay below 17375 and started accepting above 17410 coould get 17440-17460/17490/17530 if sustains 17570/17630 possible. Failing to stay above 17460 and moving below 17420 could test 17375 if accepts then 17345-17335/17290-17280 possible then should bounce else 17240-17230/17180 possible
Swing wise probe was for 17450 holding above 17165 after Friday auction and this is done now..Holding above 17280 now could look for 17520/17580/17640/17740 next.
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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.
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