Nifty future recent high clocked on 3rd June, when we take a AVWAP from the high is coming to be around 15830, the recent test of the same AVWAP had seen a push back in Nifty on 27th June.
Like its observed if a level is tested again and again it becomes weaker, this time again its to be seen if we are able to cross this AVWAP hurdle.
Lets check the AVWAP on options also called life VWAP for option - https://www.indianstockss.com/forum/miscellaneous/how-to-judge-if-option-seller-is-loosing-introducing-the-concept-of-life-vwap-for-an-option
Nifty 15700 CE is trading above its life vwap and saw decent dip in OI also towards close on Friday.
Lets see how this AVWAP test on futures goes, my bias is bullish looking at the 15700 CE crossing its life vwap and OI action.
Disclosure: Open bullish CE spread in Nifty monthly options.