A lower open saw no additional selling in the first hour and the Nifty rose to test the vwap of yesterday’s neutral extreme trade where responsive selling pushed it lower before a retrace to vwap back near the close. The 2 way auction showed 2 players auctioning for control but the Buyer managed to hold the 10540 levels well.
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-28th-may-to-1st-june/
Nifty May F:
- The NF Open was an OAOR
- The day type was a Normal variation day
- Largest volume was traded at 10600 F today
- Vwap of the session was at 10590 with volumes of 124.6 L in a session which traded a High-Low range of 10648-10539 for 48 points.
Monthly Zones:
- 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.
- The developing vwap of May series is today at 10673 spot
- The developing POC of May series is today at 10736 spot
Weekly Zones :
- The broken 10730 F zone is major resistance for the rest of the series
- Immediate support lower at 10520F for now.
- The second layer of Support lower at 10410 F now
Daily Zones:
- Value zones ( volume profile) are at 10605-10600-10551 for tomorrow
Plan :
a) The broken 10650 zone likely to again give fresh supply on any upticks. Watch for RS here
b) A second round of supply can come near 10678-10686
c) 1support lower on day is at 10570
d) 2nd round of support at 10530.
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 OAOR
- The Day type was a Normal Variation day
- Vwap of the day was at 26150 with Volumes of 47.8 L and a High – Low of 26356-25921 for a range of 436 points.
- Largest Volume was traded at 26002 F today
Monthly Zones :
- The vwap of Apr series is at 25010 spot with POC of 25050
- The settlement day rollover volume point is at 25035 F.
- The developing vwap of May series is today at 26023 spot
- The developing POC of May series is today at 26205 spot
Weekly Zones :
- The BN closed near the 26230 zone.
- the 26740 zone has the higher supply.
- Retrace back to 25800 is a high probability weekly play if auctions below 26200 F
Daily Zones:
- Value zones ( volume profile) are at 26210-26002-25960 for tomorrow
Plan :
a) supply can be seen near 26350 and 26435 from previous auctions
b) the zone around 26060 likely to show demand again
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