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)

Bank Nifty Futures Positive Uptrend to Continue in Short Term

27 sec read

Bank Nifty Futures sellers are in control however momentum sellers are clearly missing from the market. Hourly support comes around 26206 levels. Throughout the June month bank nifty futures is trading in a 1000 point range and the momentum is falling for most of the banking stocks. Only Few stocks like HDFCBANK, Kotak Bank, Yes bank and rest all from the Bank Nifty pack is showing declining momentum.

Trading sentiment on the lower timeframe holds positive however on the daily sentiment still negativity continues. However too much of frustrated shorts are there in the system. Price holding the support zones 26206 could potentially lead to short covering rally towards 26700 levels. Only a sellers attempt below 26205 could change the potential trade setup towards downside.

Bank Nifty Constituents – Momentum Table

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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