Marketcalls
Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty Weekly View using Classical Technical Analysis

28 sec read

Nifty Weekly Charts
[wp_ad_camp_5]

 
This time using the classical technical analysis tools to analyze the how to play the trend reversal in nifty. Currently Nifty spot is trading below 5900 and On the weekly charts as per 5EMA high-Low strategy nifty is in sell mode for the past 6 weeks. And the RSI(2) and CCI(4) indicates oversold levels in Nifty Spot Weekly charts. Currently 5800PE is the highest open interest builtup area among the other strike price.

Base onthat it is prefered to go long above 5920 for positional if nifty spot closes above 5900 on EOD basis with the stoploss of 5880 as i do expect trend reversal is nifty manages to close above 5900 for this week. On the down side 5800 will be the support for the current option series as most of the put writers believe that 5800 is a very good support zone.

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
«
»

Nifty Futures – Risk of Holding Longs Increasing

Nifty Futures since the last 8 trading sessions have been crowded by shorter-term buyers and currently, the trading context show that there is risk...
Rajandran R
Nov 6, 2023 15 sec read

Nifty Futures – Trading Inventory goes Short to too…

The Nifty Futures October series is witnessing a consistent influx of short-term sellers on a daily basis. Over the past four consecutive trading sessions,...
Rajandran R
Oct 26, 2023 46 sec read

Nifty and Bank Nifty futures September Overview – III

Nifty and Bank Nifty futures hourly charts are maintaining the buy mode. Currently the supports zone comes around 5799 and 10000 respectively. Reverse to...
Rajandran R
Sep 17, 2013 14 sec read

4 Replies to “Nifty Weekly View using Classical Technical Analysis”

  2. you are always doing an excellent job.keep it up.I hope you remember the chennai seminar where we met

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More