Coming into the session, we were aware that the Nifty was Neutral with a responsive seller at 10525 and responsive buying at 10460. The lower open of the Nifty on Monday was an Open Rejection reverse or an ORR type of Market Profile open. It was a lot more slower than other opens of these types and hence the auction was stagnant for a while floating around 10470. But once the extension was done the Nifty closed at it’s highest point. The 10470 zone and 10496 buy zone is the immediate support for the auction now. On the higher side, the measured objective of the move is near 10550F and it was hit today and we have to see if the auction wants higher levels above 10555 and 10582F.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at – https://vtrender.com/weekly-hypos-for-the-week-dated-16th-april-to-20th-april/
Nifty APR F:
- The NF Open was an ORR
- The day type was a Normal variation day
- Largest volume was traded at 10470 F today
- Vwap of the session was at 10495 with volumes of 78.5 L in a session which traded a High-Low range of 10549-10431 for 118 points.
- The vwap of the March series is at 10277 spot and the POC is at 10356.
- The settlement day rollover volume point is at 10154 F and is the bias point for the sessions ahead.
- Value areas are at 10525-10471-10446 for tomorrow
- Support is at 10496 in tomorrow’s session with resistance at 10581
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: Above 10580 longs for 10622
**Bearish Hypo: Below 10495 shorts for 10460
** Neutral Range: 10540-10498
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 APR F:
- The BNF Open was an ORR
- The Day type was a Normal Variation day
- Vwap of the day was at 25215 with Volumes of 29.1 L and a High – Low of 25347-25050 for a range of 300 points.
- The vwap of Mar series is at 24592 spot with POC of 24860
- The settlement day rollover volume point is at 24350 F and is the bias point for the sessions ahead.
- The Value areas are at 25342-25320-25197 for the session next.
- The support is at 25213 for the next session with resistance at 25430
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25435 for 25538
**Bearish Hypo: Below 25230 for 25120
** Neutral Range: 25430-25240
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