We expected the Nifty to test 10499F and had mentioned the same in yesterday’s posts for the Intraday auction and the Nifty rose higher to meet responsive selling at 10590 F. The dip which followed was met with very strong responsive buying again in the 10520 F zone just like we saw yesterday. It’s been a feature of the series of April where the Buyer if unable to chart a course higher has moved quickly into the lower prices to shut the door on aspiring sellers. We had seen this at 10370 F on the 11th and we saw something similar today 150 points higher at 10520F. Value was placed higher again today and we should be headed higher again from here.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at – https://vtrender.com/weekly-hypos-for-the-week-dated-16th-april-to-20th-april/
Nifty APR F:
- The NF Open was an Open auction
- The day type was a Neutral day
- Largest volume was traded at 10550 F today
- Vwap of the session was at 10561 with volumes of 88.3 L in a session which traded a High-Low range of 10596-10520 for 76 points.
- The vwap of the March series is at 10277 spot and the POC is at 10356.
- The settlement day rollover volume point is at 10154 F and is the bias point for the sessions ahead.
- Value areas are at 10575-10564-10552 for tomorrow
- Support is at 10575 in tomorrow’s session with resistance at 10520
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: Above 10574 longs for 10597
**Bearish Hypo: Below 10520 shorts for 10498
** Neutral Range: 10540-10568
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 APR F:
- The BNF Open was an Open auction
- The Day type was a Normal Variation day
- Vwap of the day was at 25258 with Volumes of 36.3 L and a High – Low of 25448-25080 for a range of 368 points.
- The vwap of Mar series is at 24592 spot with POC of 24860
- The settlement day rollover volume point is at 24350 F and is the bias point for the sessions ahead.
- The Value areas are at 25360-25230-25210 for the session next.
- The support is at 25000 for the next session with resistance at 25260
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25260 for 25375
**Bearish Hypo: Below 25000 for 24875
** Neutral Range: 25140-25240
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