The auction of Thursday was mostly inside the range of yesterday’s profile but structured downwards. In these 2 sessions, we are now seeing 2 identical volume pockets at 10722 and at 10776 hinting at the presence of large players. In MarketProfile we tend to look at the commitment of players to an auction. We also pay attention to the sizes which are coming in and these, in turn, would largely guide us to the presence of institutional players or larger net-worth individuals. We want to track these big-ticket players who have a larger size and are willing to take a bigger risk in the markets.
I’m speaking on how to use the MarketProfile as a process to stay ahead of the opportunities the markets gives us, this coming Saturday in Mumbai. If you are in and around, we recommend it highly for your account. Details at – https://goo.gl/6fBqQw
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-7th-may-to-11th-may/
Nifty May F:
- The NF Open was an Open Test Drive
- The day type was a Normal variation day
- Largest volume was traded at 10724 F today
- Vwap of the session was at 10743 with volumes of 64.3 L in a session which traded a High-Low range of 10794-10715 for 79 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 10758-10724-10720 for tomorrow
- Support is at 10700 in tomorrow’s session with resistance at 10751
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10751 longs for 10778
**Bearish Hypo: Below 10700 shorts for 10670
** Neutral Range: 10720-10750
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
- The Day type was a Normal Variation day
- Vwap of the day was at 26133 with Volumes of 26.3 L and a High – Low of 26222-26031 for a range of 189 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 26155-26128-26060 for the session next.
- The support is at 26000 for the next session with resistance at 26135
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 26135 for 26200
**Bearish Hypo: Below 26000 for 25940
** Neutral Range: 26090-26000
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