Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Bank Nifty Futures – Short Term Overview December Expiry – Part 1

38 sec read

Nifty Daily Charts

Bank Nifty Futures consecutively making lower lows for the last 5 trading session on the daily charts. Price breaks the previous week low and in the last 1 hour of the trading session manage to close above friday low (Previous Week Low as well). Trading Sentiment continues to be negative as long as price holds below 25242 levels. Mondays price attempt closed the 1st Nov Gap.

Market Profile Sentiment

Bank Nifty on Monday Trading Session opens within the fridays spike reference (between spike base and spike bottom). Mondays trading session is completely dominated by day timeframe traders and emotional shorter timeframe traders. Panic Selling is observed in the last trading session. Short term Inventory is getting short to too short.

Key Trading References

1)Settlement close at 25185.85
2)Rally High References at 25242.05
3)Spike Base References at 25350 & 25527
4)Gap top at 25788
5)Poor Structure on 29th Nov 2017
6)Poor High at 25976
7)Prominent POC at 26030

In the very short term price acceptance above 25240 brings positive continuation in the trend else a price acceptance and further price staying below prev week low 24210 will bring some more weakness.

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty Futures Hourly Exhaustion Post Budget Announcement and Tax…

Following the recent budget announcement, the market sentiment in the Nifty Futures has shown signs of seller exhaustion. As observed in the hourly chart,...
Rajandran R
2 min read

Analyzing Bank Nifty: Dual Momentum Top and Market Profile…

The Bank Nifty chart showcases a fascinating pattern known as the “Dual Momentum Top,” indicating potential short-term bearishness. Let’s dive into the details of...
Rajandran R
1 min read

Options Explosion: Why 45.5 Lakh Traders Are Betting Big…

Hey traders! Ever wondered how you stack up against the crowd in the NSE? The Indian stock market is witnessing an unprecedented surge in...
Rajandran R
3 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More