Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Futures – Market Profile Analysis – 8th Mar 2018

34 sec read

Inventory is getting short to too short again. Holding shorts could be risky here as the wednesday trading session showed a volatility decline despite a huge drop. Possible signs of short term trend reversal. Nifty is trading very close to the 200 moving average level. In such a situation when short covering happens one have to run for cover especially when inventory conditions are getting short to too short.

Nifty Futures Market Profile Charts



Market Profile – Key Reference Levels

1)Spike Base at 10355

2)Prominent POC at 10481, 10568, 10700

3)Previous Week Low at 10449 and 2 Week Low at 10315

4)Mechanical stops Upper Side 10617 and 10638

5)Weekly Gap at 10724(upper side).

6)Double Distribution Balance 10466

7)Weekly Gap (Partially Filled) 10440

Trading Sentiment is down with short term inventory getting short to too short. Any acceptance above 10225 could bring a potential short covering towards the spike base 10355 and the weekly gap 10440 levels.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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