Settlement of April series was done at the highest point in a spike which came later afternoon and ensured a close at the highs. Spike rules would apply immediately at the open for the intra day context and the idea would be to see if buyers respond if prices probe to 10603 May F again. We had anticipated an Inside day and trade was well within the range done yesterday. The April series closed with a vwap of 10420 in the Nifty (spot) and the highest volume of the series was traded at 10556 (spot). It was a series dominated by the bulls after 2 back to back series dominated by bears in February and March. Incidentally, the vwap of the series of Feb was touched but not violated. The BankNifty traded April with a series vwap of 24895. The largest concentration of volume was seen at 25040 (spot)
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-23rd-april-to-27th-april/
Nifty May F:
- The NF Open was an OAIR
- The day type was a Neutral day
- Largest volume was traded at 10603 F today
- Vwap of the session was at 10603 with volumes of 131.1 L in a session which traded a High-Low range of 10644-10577 for 66 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 10609-10603-10584 for tomorrow
- Support is at 10600 in tomorrow’s session with resistance at 10654
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10654 longs for 10678
**Bearish Hypo: Below 10586 shorts for 10531
** Neutral Range: 10630-10596
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 OAIR
- The Day type was a Normal Variation day
- Vwap of the day was at 24888 with Volumes of 24.9 L and a High – Low of 25053-24805 for a range of 211 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 25047-25035-24860 for the session next.
- The support is at 24930 for the next session with resistance at 25104
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25110 for 25190
**Bearish Hypo: Below 24930 for 24850
** Neutral Range: 25070-24920
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