We auctioned above the spike highs early at the open in an Open test drive which converted to a P shaped Profile at the close. Quite clearly the late sellers of yesterday were caught off guard and the Nifty and the BankNifty closed at session highs. A P shaped profile has a reference area around the POC which at 10723 and 25420 would be the actionable point for the auction tomorrow.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at – https://vtrender.com/weekly-outlook-for-the-week-dated-23rd-april-to-27th-april/
Nifty May F:
- The NF Open was an OTD
- The day type was a Normal day
- Largest volume was traded at 10723 F today
- Vwap of the session was at 10711 with volumes of 82.1 L in a session which traded a High-Low range of 10744-10640 for 104 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 10729-10723-10708 for tomorrow
- Support is at 10688 in tomorrow’s session with resistance at 10758
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10758 longs for 10794
**Bearish Hypo: Below 10688 shorts for 10652
** Neutral Range: 10690-10726
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 OTD
- The Day type was a Normal Variation day
- Vwap of the day was at 25311 with Volumes of 36.4 L and a High – Low of 25477- 25035 for a range of 442 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 25468-25420-25311 for the session next.
- The support is at 25320 for the next session with resistance at 25615
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25615 for 25770
**Bearish Hypo: Below 25320 for 25200
** Neutral Range: 25370-25470
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