The responsive buying which we saw the past two days in the Nifty at the lows brought about the expected move today. The NF was 20 points short of the expected 10765 at the close. We feel this area requires a fresh scrutiny and the Nifty may try to probe the zone deeply. Post today’s move we expect the 10675-10690 extension zone to form a support for the Nifty on the intraday scale.
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-7th-may-to-11th-may/
Nifty May F:
- The NF Open was an Open test drive
- The day type was a Normal variation day
- Largest volume was traded at 10739 F today
- Vwap of the session was at 10703 with volumes of 55.5 L in a session which traded a High-Low range of 10746-10645 for 101 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 10745-10739-10691 for tomorrow
- Support is at 10705 in tomorrow’s session with resistance at 10773
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10774 longs for 10808
**Bearish Hypo: Below 10670 shorts for 10576
** Neutral Range: 10690-10744
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 variation day
- Vwap of the day was at 25818 with Volumes of 21.3 L and a High – Low of 25900-25737 for a range of 162 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 25846-25835-25785 for the session next.
- The support is at 25830 for the next session with resistance at 25951
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25951 for 26008
**Bearish Hypo: Below 25827 for 25786
** Neutral Range: 25930-25840
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