Weekly hypos for the week dated 09th Oct- 13th Oct ( spot prices)

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The Oct series has begun on an optimistic note for Buyers with them retaining control on all 4 sessions of the week which concluded Friday 06th Oct. We had value marching higher through the week in the Nifty. The Bank Index, however, played a sideways narrow range on only 235 points in the week and should be the one to trade in the coming week for a directional trigger.

 

The Nifty is looking to trade a 9800- 10150 range for Oct series with the Pivot for bias being around the 9940 zone which marked the vwap of September series. A push to the Volume Clusters located near 10144 zone is the objective in the Nifty for any auction which stays above 9940 spot. In the BN the highest volume traded in the previous series was at 24360 with vwap of 24400. Bullish momentum can come in this index only when we manage a trade above these 2 points.

 

Nifty weekly spot profiles:

 

n_weekly

 

 

Last week the Nifty traded a 9989-9831 range with a vwap of 9910 and a POC also at 9910.

 

The range for the coming week should be capped within 9870 on the lower side and 10090 on the higher side

 

Here are the hypos ( valid until Friday 13th Oct )

 

  1. The expected range of the auction on existing volumes remaining unchanged is 10090- 9870
  2. We would retain a positive bias as long as the vwap – filter of 9940 around 9925 is held (cmp was 9980 at Friday close)
  3. The last 3 weeks have little volume traded between 9970 to 10150
  4. So we are playing for a low volume slow movement in this range in the week ahead
  5. Bias becomes more stronger above 10030 and can give a 60 point markup to 10090
  6. Below 9925 strong support exists at 9875 spot where responsive buying should emerge again.

 

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

 

Last week the BN traded in a 24242 to a 24007 range with a vwap of 24120 and POC of 24105.

 

The range for the coming week depends on the reaction near 24360 spot which if crossed can push the BN higher by 200 points quickly to the next supply zone. However, a failure at highs has the potential to drop the index to 24030 again. Hence 24030- 24360 is our zone to watch.

 

Here are the hypos ( valid until Friday 13th Oct )

 

  1. The BN should be coming away from a week old bracket it has been trading in and should give a directional move
  2. 24360 is our line in the sand to watch for initiative buyers willing to push it higher or responsive sellers wanting to jump in.
  3. Bias is strong above 24360 to the higher supply zone of 24550.
  4. If 24550 is crossed it would push for 25050 revisit in the coming 2 weeks
  5. Support exists lower at 24110 and 24030.

 

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