Nifty on friday ended with strong downtrend on all the timeframe. On the 90 min charts nifty turned to sell mode its attempt to test intermediate level 5324 ends in vain and resulting in sell signal once again currently cloud resistance comes near to 5262 zone. Bank Nifty on the 90 min timeframe is in buy mode but trading below the intermediate level (200MA ..i.e 10338) and cloud supports are at 10224.
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Nifty and Bank Nifty 90 min charts for 16 Apr 2012 Trading
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