The nifty dipped today below the lows of Thursday’s profile but for the second straight day we saw responsive buying coming at the lows. Supply is clearly missing on the probes lower which would point to the Nifty retracing and checking for intent first at 10715 and later at 10765. The Banknifty was an inside day profile and the composite is well balanced signaling a trend day ahead.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at –https://vtrender.com/weekly-outlook-for-the-week-dated-30th-april-to-4th-may/
Nifty May F:
- The NF Open was an Open auction
- The day type was a Normal variation day
- Largest volume was traded at 10658 F today
- Vwap of the session was at 10663 with volumes of 66.4 L in a session which traded a High-Low range of 10687-10640 for 47 points.
- The vwap of the April series is at 10419 spot and the POC is at 10556.
- The settlement day rollover volume point is at 10632 F and 10603 F and is the bias point for the sessions ahead.
- Value areas are at 10672-10660-10651 for tomorrow
- Support is at 10640 in tomorrow’s session with resistance at 10714
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10674 longs for 10719
**Bearish Hypo: Below 10626 shorts for 10608
** Neutral Range: 10640-10674
Note – hypos are tradeable with a 1-1 ratio and are valid for the full session from Open to close. For example, a 30-point target would mean a stop of 30.
For tradeable ideas on these hypos and to check the OrderFlow live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout
BNF May F:
- The BNF Open was an Open auction
- The Day type was a Normal day
- Vwap of the day was at 25672 with Volumes of 22.3 L and a High – Low of 25738-25602 for a range of 130 points.
- The vwap of Apr series is at 25010 spot with POC of 25050
- The settlement day rollover volume point is at 25035 F and is the bias point for the sessions ahead.
- The Value areas are at 25710-25701-25650 for the session next.
- The support is at 25630 for the next session with resistance at 25747
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25747 for 25830
**Bearish Hypo: Below 25607 for 25510
** Neutral Range: 25730-25630
Note – hypos are tradeable with a 1-1 ratio and are valid for the full session from Open to close. For example, a 50-point target would mean a stop of 50.
For tradeable ideas on these hypos and to check the OrderFlow Live visit the trading room.
If not a Trading Room member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout