NF had long liquidation b profile in last session. Any move higher failing to get intent from buyers expected to have overlap in 2 days range..NF all day gone for this move with ORR down move in IB and then cleared 2days low after lot of whipping moves.After good balance post mid session if stays higher above 22385 then expected spike higher which happened in last hour then closed at high.
Neutral extreme up day closing with large spike up.22400-22485 spike zone.
Outside day with heavy volume.
Entire spike up from day low till close was mostly clearing shorts from two way balance day and inventory wise again looks like clean slate at end of day. 3IB down then 2IB up day suggests emotional the spike hence sm balance possible in first session next.
Buyers job to defend 22460 early in session and stay higher to get 22540-22550 then sustain higher further means good move all session possible next..22460 goes means chop in spike zone to test 22400-22380 then bounce..If sustains 22380 then odds of repairing today profile possible.
22380 then 22320 becomes two good swing support now.
Levels wise for next session, defending 22460 and moving above 22495 could get 22535-22550 if sustains 22580-22590/22630-22650/22685/22715. Not able to stay above 22540 and moving below 22480 could get 22450 weak below that for 22415/22385 and more weakness below 22380 for 22350/22310-22295 if sustains 22255-22240/22210.
Charts and data :
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