A spike into the close left NF with poor highs and and a small buying tail which was from the base of the previous day’s breakout region.Spike rules will apply at the open on Monday morning with an open above friday’s high confirming that the move late on friday afternoon had delta and momentum going into it.
Immediate targets would be 5115 and the high volume zone of 5133 would be keenly watched for price reversals or responsive selling. The previous HVN of 4997 has nor been resolved to the buyers who have supported it twice in the past two sessions and is now a reference level to the downside and a trailing stop for all long positions.
The BN had a n open drive with an O below D confirming a close which once again was at the upper extreme. Again the same spike rules apply in BN to see continuation of buying momentum.However the POC is placed below at 9390 and if the open is not aggressive or higher then we should see the POC being tested as the spike does not have value attached to it and it would be easier to push these new buyers out,.