Weekly hypos for the week dated 08th Jan- 12th Jan ( spot prices)

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Our focus last week was the 2 heavy volume clusters at 10496- 10474 and we had expected the auction to test 10380 if it stayed below it. The auction spent 3 of the 5 sessions below the volume cluster and made it to a low of 10404 just above the big volume zone of Dec. Responsive buying from 10442 later in the week took the index to close at the highest point of 10566 late on Friday. Up ahead the index has to push above 10600 immediately on Monday and Tuesday to sustain the move of Friday. If it does not manage to do that, it would mean a move back to the 10495 and even the 10444 volume cluster.

 

Last week’s post is at – http://vtrender.com/weekly-hypos-week-dated-01st-jan-05th-jan-spot-prices/

 

Our outlook for 2018 is at – http://vtrender.com/2017-done-heres-2018-can/

 

Nifty weekly spot TPO profiles:

 

n_weekly

 

 

Last week was traded with a vwap of 10480 and the highest volume got transacted at 10442. We continue to see these 2 points giving support to the index on any drop.

 

It’s still a “Buy the Dip” market as we suggested last week to buy around or close to 10380. For the week to come the Buy the dip zone is 10494 and followed by 10444. Stops for these would be below 10350.

 

For the week ahead here are the expectations ( valid until Friday 12th Jan)

 

  1. The Nifty has to rise above 10600 quickly to continue the momentum generated on Friday. It would have to do this on Monday
  2. A failure to take out 10600 early in the week would mean that the index can revert lower to 10495 and possibly 10444 again
  3. Dips to 10444 are buys again with a 100 point stop for a look at 10700 in Jan
  4. Above 10610 the Nifty is on track for 10670 and 10720 in the week ahead.

 

For tradeable ideas on these hypos visit the trading room.

If not a member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout

 

 

Bank Nifty weekly spot profiles:

 

bn_weekly

We went into last week with a negative bias in the BankNifty and expected 10200 to be visited as mentioned in the weekly post. The index hit a low of 10233 and bounced sharply to come back and test the supply zone again.

 

Last week was traded with a vwap of 25425 and the highest volume was transacted at 25325.

 

We continue to see the 25740- 25800 zone as a supply but expecting one good test of it in the 2 sessions ahead.

 

For the week ahead here are the expectations ( valid until Friday 12th Jan)

 

  1. The BN was poised to test supply at 25740- 25800 as the week closed
  2. If the index manages a move above 25720/40 early in the week it could run above 25800 to 25920/ 30 zone
  3. However, a failure to cross 25720/40 would mean that the index is headed lower again to test 25470 and 25320 below it.
  4. We consider 25320 as a zone to buy into the BN again with a stop below 25200 for a move back to 25760/ 25800.

 

For tradeable ideas on these hypos visit the trading room.

If not a member you can get immediate access at – https://in.explara.com/e/vtrender–trading–room/checkout