FTU CHART
An open and sustained move below 48100 could lead to clearing the poor low at 47950. Further continuation below this level might then clear the AB poor low at 47760, and then challenge the 47500 levels.
BNF 22 May UD1.jpg
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47950 and AB poor low at 47760 taken out. Observing for next move.
Caution needed here!
Can move either side
Caution needed here!
Can move either side
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Just for learning , posting after things happen is obviously not for trading but for learning. I was long on BN next week call when last red candle was at upper line of blue channel.. this blue channel was volatility zone .. now there were two probabilities , either it shall bounce from top of channel or anywhere from middle or low of channel. So in such cases , thought my target of 47900 came , expiry day strikes might get zero but next week strikes gave money .
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FTU CHART
Quess Seems very weak below 623
4% down and its going way down now
FTU CHART
BNF 23May prognosis.jpg
In line with our analysis, the 48100 - 150 zone of back-to-back PPOCs proved too strong for the bulls. Despite opening above the previous day's close, BNF could not capitalize and succumbed to relentless selling pressure. The price moved down until the end of the C period, after which it rotated within a narrow 150-point range between 47620 - 47770. This rotation left a super poor low, with the D, E, and H period lows matching. Such strong visual references are often cleared with a sharp spike—and what a spike it was: a 400-point drop followed by a nonstop 550-point rally from the day's low until almost the end of the day.
This rotational day also saw the development of a PPOC at 47705 levels, likely acting as a key level for tomorrow. Throughout the day, the value developed lower than the previous day, with both VPOC and TPOC migrating down. Given the spike late towards the end of the day and the price closing at 47900, above the value area high, it will be crucial to see if the price is accepted here.
For tomorrow:
Any open above 47700 and a move clearing 47900 will encounter strong resistance at the 48100-150 zone. Clearing this opens the way for 48250, 48350, and 48500 levels.
Conversely, opening below 47700 could trigger a downward slide towards 47300 levels.
While having a bias in markets is not advisable, the strong responsive buying from the 47400 level, leaving a good excess, suggests a lower likelihood of a significant downward move. However, due to potential uncertainty from various quarters (e.g., the FOMC minutes in the US), it is best to observe the markets and then take cues.
This rotational day also saw the development of a PPOC at 47705 levels, likely acting as a key level for tomorrow. Throughout the day, the value developed lower than the previous day, with both VPOC and TPOC migrating down. Given the spike late towards the end of the day and the price closing at 47900, above the value area high, it will be crucial to see if the price is accepted here.
For tomorrow:
Any open above 47700 and a move clearing 47900 will encounter strong resistance at the 48100-150 zone. Clearing this opens the way for 48250, 48350, and 48500 levels.
Conversely, opening below 47700 could trigger a downward slide towards 47300 levels.
While having a bias in markets is not advisable, the strong responsive buying from the 47400 level, leaving a good excess, suggests a lower likelihood of a significant downward move. However, due to potential uncertainty from various quarters (e.g., the FOMC minutes in the US), it is best to observe the markets and then take cues.
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Singles on top at 22620 - 670 is liquidity zone. Sustaining above this leads to 22700 - 750.
But a reversal from here can see 22550 - 22480.
If selling then sustains 22350 is the next support (AB Poor low and Singles zone)
But a reversal from here can see 22550 - 22480.
If selling then sustains 22350 is the next support (AB Poor low and Singles zone)
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