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 with Extreme Positive Sentiment nears Resistance

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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 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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