Sushma Verma (34) and Sune Luus (37 not out) were main contributors in Velocity's successful chase.
The Supernovas, led by Harmanpreet Kaur, have been invincible so far winning all the previous two editions.
The T20 Challenge, to be played during the IPL play-offs, will begin with last year's finalist Supernovas taking on Velocity in the opening game.
Veteran Mithali Raj's retirement from the T20 format paved the way for the induction of youngsters such as 15-year-old rookie Shafali Verma in the Indian women's team for the upcoming home T20 Internationals against South Africa.
Mithali Raj played a captain's knock, scoring an unbeaten 79 but South Africa registered a five-wicket victory in a low-scoring fifth and final women's ODI to seal the series 4-1.
Teenager Jemimah Rodrigues struck an unbeaten 77 to help Supernovas beat Velocity by 12 runs and enter the final of the Women's T20 Challenge.
Captain Harmanpreet Kaur struck a sensational half century as Supernovas clinched the Women's T20 Challenge with a four-wicket victory over Velocity in a dramatic final, in Jaipur, on Saturday.
With this victory, New Zealand have taken a 2-0 lead in the series with a match to play.
The 21-year-old Molineux, who plays for Melbourne Renegades in the Women's Big Bash League, has requested for a break and will not be travelling with the Renegades squad to Ballarat for their match against Melbourne Stars on Saturday.
Indian freestyle wrestlers claim Asian team title in U-17 category
A summary of sports events and persons who made news on Wednesday.
A summary of sports events and persons who made news on Sunday
