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)

Mini Uptrend Formation in Nifty

1 min read

Nifty Spot Price : 4539
 
Todays closing and markets hefty recovery from days low of 4392 lead to an opening
of a mini uptrend, but weak channel formation as shown( see red channel).
 


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Click the Chart to get Enlarged

This Channel suggests that probably we are at the bottom if we are not to face
any hard sentiments in the market. As the bandwith of the channel is less ( <200)
and so do the weaker trend. Any hard market sentiment may likeky to break this
mini trend formation.
 
Factors Possibly that can Break this trend are :
1) Tommorow's Inflation Figures
2) If Oil surges to a news peak
3) Bad IIP no's released today
 
We had closed once again nearly at the resistance region 4540. Hardly a broke out above 4550
on closing basis could lead to a short term uptrend. But Our ADX indicator is contantly moving up Signifies the strenth of the weak trend may break up at any time and can lead into negative trend once again. So Dont be hurry in a hurry to long in any of the scripts as market is still hungry to eat your proits. As todays positive closing is due to technical bounce back,market volatility and on the note of positive opening from European markets and more whatever you call.
 
In summary US markets closing may be positive as the US futures are right now trading in dark
green because of Great Expectations from Retail Sales nos's. And Crude is trading nearly at 134$/Barrel. Any Shaky substance can lead to the broke of the weak trend and it would lead to
a huge dark space where Bears are ready to catch investors tightly
 
Regards,
Rajandran R
Author – MarketCalls
 
 
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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