For the second straight session, we opened just near the highs of the previous session and probed higher immediately at the open catching late shorts of Friday off guard in the first 30 minutes of trade. We got another P profile with value higher on the day. 10620 is the reference level for the rest of the settlement week after today’s early move.
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-28th-may-to-1st-june/
Nifty May F:
- The NF Open was an OTD
- The day type was a Normal Variation day
- Largest volume was traded at 10668 F today
- Vwap of the session was at 10673 with volumes of 75.5 L in a session which traded a High-Low range of 10698-10629 for 70 points.
Monthly Zones:
- 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.
Weekly Zones :
- The broken 10730 F zone is major resistance for the rest of the series
- Immediate support lower at 10520F for now.
- The second layer of Support lower at 10410 F now
Daily Zones:
- Value areas are at 10689-10666-10664 for tomorrow
Plan :
a) The 10701 zone if crossed can carry the Nifty higher to the 10725 F resistance
b) Watch for fresh demand near 10655 zone
c) Below 10653 weakness to 10621
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 OD
- The Day type was a Normal Variation day
- Vwap of the day was at 26491 with Volumes of 25.3 L and a High – Low of 26635-26239 for a range of 395 points.
- Largest Volume was traded at 26525 F today
Monthly Zones :
- The vwap of Apr series is at 25010 spot with POC of 25050
- The settlement day rollover volume point is at 25035 F .
Weekly Zones :
- The BN can continue to be strong above 26230.
- the 26740 zone has the higher supply.
- Retrace back to 25800 is a high probability weekly play if auctions below 26200 F
Daily Zones:
- The Value areas are at 26550-26515-26390 for the session next.
Plan :
a) supply exists near 26670 and higher
b) demand is there at 26480 F now and lower at 26390.
c) below 26390 the BNF can visit 26270 again.
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