The nifty drove down below 10765 early at the open and stalled around 10728 for a considerable amount of time in a b shaped profile. There was a spike at the close from 10728 to 10680 F but we saw evidence of strong responsive buying in the spike. The 10660 vpoc from 04/05 is the immediate support on structure followed closely by 10596F. Buyers should respond closer to these 2 points if they want to keep the auction between 10600- 10900 for the rest of this series. A failure by buyers at 10600 F opens up 10440 and 10260 later this series.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at –https://vtrender.com/weekly-outlook-for-week-dated-14th-may-to-18th-may-spot-prices/
Nifty May F:
- The NF Open was an Open drive lower
- The day type was a Normal Variation day
- Largest volume was traded at 10728 F today
- Vwap of the session was at 10722 with volumes of 72.5 L in a session which traded a High-Low range of 10786-10680 for 106 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 10755-10728-10711 for tomorrow
- Support is at 10730 in tomorrow’s session with resistance at 10795
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10732 longs for 10770
**Bearish Hypo: Below 10655 shorts for 10623
** Neutral Range: 10730-10690
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 26150 with Volumes of 29.51 L and a High – Low of 26284-26023 for a range of 261 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 26235-26181-26100 for the session next.
- The support is at 25985 for the next session with resistance at 26160
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 26160 for 26250
**Bearish Hypo: Below 25980 for 25896
** Neutral Range: 26000-26100
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