Selling tail and long liquidation profile in last session.19780-19810 considered as resistance for sellers to hold and get overlap session..Above 19810 squeeze expected for next session.NF opened into this selling tail and had a mini drive then later got more squeeze higher. Above 19805 marked for 19835-19850/19890-19915 and NF had a move till 19898 then moved to dPOC for close.
3-1-3 profile..Tails at ends and balance in between. Sustain value area = trend else fill back value area and look for extension other side.
Move back towards excess tail zone printed good selling tail again today..Swing probe due at 19740-19720 again in coming sessions as long as not accepting above 19930..As per current composite in making , we could see few sessions between 19670-19730-19780-19835-19910 roughly. Skewed POC of this composite in making + current range and volume not suggesting to look for any rally above 19930 yet and suggests to look for some more balance.
Levels wise for next session, not able to stay above 19880 and move below 19855 could get 19830-19820 and weak below that for 19795-19785/19760/19735.Not able to stay below 19815 and move above 19835 could get 19860/19890-19915 if sustains then 19945-19965 probe possible.
Charts and data :
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