The auction of Friday was a Normal variation day which took out the supply at 10767-10780 and closed in a spike at 10825. Spike rules apply at the Open on Monday. The 10767- 10780 zone could serve as a support on dips. The second level of support is near 10700.
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 auction
- The day type was a Normal variation day
- Largest volume was traded at 10820 F today
- Vwap of the session was at 10775 with volumes of 80.3 L in a session which traded a High-Low range of 10827-10736 for 90 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 10826-10820-10768 for tomorrow
- Support is at 10790 in tomorrow’s session with resistance at 10851
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10851 longs for 10882
**Bearish Hypo: Below 10790 shorts for 10758
** Neutral Range: 10850-10790
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 26216 with Volumes of 27.9 L and a High – Low of 26429-26060 for a range of 370 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 26305-26182-26060 for the session next.
- The support is at 26277 for the next session with resistance at 26535
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 26535 for 26650
**Bearish Hypo: Below 26270 for 26240
** Neutral Range: 26290-26530
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