Rajandran R 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 with Extreme Positive Sentiment nears Resistance

41 sec read

Nifty Futures on Thursday session reached near the resistance level 11600-11650 band. The street sentiment is overheated and too many traders and momentum traders competed in the last couple of days.

Nifty Futures Quick Flip

Quick flip supports are coming around 11470-11480 levels and the trading sentiment is continuing positive so far. Breaking this band could turn the trading sentiment negative.

During this week market moved towards north despite negative news sentiment in the markets. Short term momentum traders jumped in the post the UK-EU Brexit deal news announcement.

Nifty Futures – News Flow

FII index futures spiked on the day of EU-UK Brexit deal announcement. It is a weird data point when the street sentiment is bullish.

FII Index Futures – Spike in Shorts

Price could find a resistance zone around 11650-11680 band as derived via market profile and possibly profit booking from short term players.

Nifty Futures – Market Profile Charts

Twice short term traders were taken emotion decisions during the last 5 trading sessions especially the Tuesday and Thursday trading sessions. For any possible upmove to continue price has to break the strong barrier 11650-11680 to push towards 11800 levels and higher.

Rajandran R 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)

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