We got a second P shaped profile in the Nifty in the auction dated 30th April with a POC of 10764. The earlier P with POC of 10723 is a support now and the market shows signs of short covering. Value is still higher and indicating that the path of least resistance continues to be higher.
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-30th-april-to-4th-may/
Nifty May F:
- The NF Open was an OD driven by locals
- The day type was a Normal day
- Largest volume was traded at 10764 F today
- Vwap of the session was at 10771 with volumes of 49.5 L in a session which traded a High-Low range of 10788–10727 for 60 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 10778-10764-10762 for tomorrow
- Support is at 10724 in tomorrow’s session with resistance at 10800
Hypos for the next session: (Prices are May F)
**Bullish Hypo: Above 10800 longs for 10821
**Bearish Hypo: Below 10724 shorts for 10688
** Neutral Range: 10790-10746
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 OTD driven by locals
- The Day type was a Normal Variation day
- Vwap of the day was at 25609 with Volumes of 20.8 L and a High – Low of 25678-25401 for a range of 190 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 25635-25590-25562 for the session next.
- The support is at 25540 for the next session with resistance at 25727
Hypos for the next session: (Prices are Apr F)
**Bullish Hypo: above 25727 for 25820
**Bearish Hypo: Below 25540 for 25445
** Neutral Range: 25570-25670
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