Nifty and Bank Nifty turned to positional sell mode last friday with current resistance coming around 5423 and 10500 respectively. Reverse your strategy to positional Buy only if the resistance breaks on the upside. And Higher Open Interest are visible near 5500CE and 5300PE. indicating possibility of Nifty expiring between 5300 and 5500.
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 27 Aug 2012 Trading
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