Value went sideways today in both the Nifty and the BankNifty in an indication that the momentum we had seen from settlement afternoon is waning and the markets would be ready to balance and maybe correct a bit from here. We have pointed out the 10750 spot zone as a critical point for the auction at least for the week which is underway and there was no visible attempt to auction above it today.
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-30th-april-to-4th-may/
Nifty May F:
- The NF Open was an Open auction driven by locals
- The day type was a Normal Variation day
- Largest volume was traded at 10742 F today
- Vwap of the session was at 10757 with volumes of 66.6 L in a session which traded a High-Low range of 10785-10706 for 80 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 10774-10739-10733 for tomorrow
- Support is at 10710 in tomorrow’s session with resistance at 10765
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10765 longs for 10793
**Bearish Hypo: Below 10710 shorts for 10688
** Neutral Range: 10760-10726
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 Open auction driven by locals
- The Day type was a Normal Variation day
- Vwap of the day was at 25650 with Volumes of 28.9 L and a High – Low of 25744-25564 for a range of 180 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 25660-25630-25575 for the session next.
- The support is at 25540 for the next session with resistance at 25727
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25727 for 25820
**Bearish Hypo: Below 25540 for 25445
** Neutral Range: 25570-25670
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