The nifty stayed below the spike lows on Friday establishing a sell-side bias early in the session. The late buyers seen on Thursday had to reverse their positions quickly and the Nifty dropped to 10586 by the close. There was also big responsive buying into the close as the Nifty tested the 10600 mark yesterday. The gains of May have been given up but there is a noticeable lack of supply near 10600 F . The auction should head back to 10650 and 10730 in the sessions ahead.
The short-term weekly outlook for the Nifty and the plan we intend to follow is at –https://vtrender.com/weekly-outlook-for-week-dated-14th-may-to-18th-may-spot-prices/
Nifty May F:
- The NF Open was an Open drive lower
- The day type was a Normal Variation day
- Largest volume was traded at 10650 F today
- Vwap of the session was at 10628 with volumes of 92.5 L in a session which traded a High-Low range of 10693-10586 for 106 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 10677-10650-10611 for tomorrow
- Support is at 10548 in tomorrow’s session with resistance at 10650
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10630 longs for 10650
**Bearish Hypo: Below 10548 shorts for 10524
** Neutral Range: 10600-10580
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 drive lower but on low volume
- The Day type was a Normal variation day
- Vwap of the day was at 25904 with Volumes of 25.51 L and a High – Low of 26048-25810 for a range of 237 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 25930-25870-25844 for the session next.
- The support is at 25800 for the next session with resistance at 25960
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25960 for 26040
**Bearish Hypo: Below 25800 for 25716
** Neutral Range: 25800-25900
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