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.

Bank Nifty Futures November Trend Overview

47 sec read

Bank Nifty Weekly Charts
bank-nifty-weekly

Too much of consolidation in Bank Nifty Futures weekly charts indicates the age of the trend is getting too old. Old trend doesn’t mean that it will be come an end but from the investing stand point it many not be worth taking a risky investment bet especially if you are a medium term investor.

Trading Longs in Bank Nifty are Absolutely Fine from Day trading or Short term trading perspective. In case if you have plans to trade the long side one has to reduce their position size. Strong price acceptance below 19000 and fail to bounce from here could be a change in trend reversal.

Bank Nifty Market Profile Charts

Bank Nifty Futures charts are one timeframing for the last 5 trading sessions and mid day sell-off is observed in last three trading sessions. Whereas on the friday trading session post the selloff, Point of control haven’t migrated lower though price migrated which indicates that short sellers are ending up catching lower prices below the value area and high possibilities of ending up trapped in the upcoming trading sessions.

low-confidence-selloff

Also three Rally high in a row indicates that short term short sellers inventory is getting from short to too short which indicates a possible short trend reversal towards 19200-19300 zone can be anticipated.

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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