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 – Short Term Overview December Expiry – Part 3

51 sec read

Bank Nifty Market Profile Charts

Mondays trading session Bank nifty opened with global optimism and the day is seen driven mostly by intraday and short term buyers in the counter. Serious long term money is missing in the counter and lack of enthusiasm prevailed post the gap up in Bank Nifty Futures and also underperformed the broader index Nifty 50 thereby formation of a dull boring rotational trading rest of the day.

Fridays session is a P shape profile which indicates short covering of some of the market participants since the morning. Trading Confidence is largely missing in Bank Nifty since the market open (Though there is a gap up in Bank Nifty).

Profile structure is showing a short term weakness. sort of back to back promient POC in Bank Nifty. Longs has to be cautious in Bank Nifty. This could possibly test the P shape balance for a test towards any possible acceptance below 25300 if no sellers price resumes its uptrend again.

Key Reference Levels
1)Spike Reference – 25507
2)Prominent POC – 25420
3)Previous Week High – 25387
4)P Shape Balance – 25300

Bank Nifty Daily Trading Sentiment

Trading Sentiment is positive and one timeframing higher in the last three trading session on the daily timeframe.

Any price rejection at 25507 or failure to accept above the spike reference brings more very short term weakness for a possible test towards 25300 levels.
However price acceptance and staying above 25507 could bring some more positivism towards the short term uptrend.

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.

[Option Strategy] Hedged Futures with OTM Options to Save…

These days for Retail Traders trading in futures trading requires a huge margin. Approximately 1.65 Lakh per lot is required to carrying forward future...
Rajandran R
1 min read

How to Send Automated Option Orders from Excel Sheet

In this online webinar we will be discussing how to send automated orders using Microsoft Excelsheet and How to Get realtime data into Excel.
Rajandran R
16 sec read

Bearish Option Strategy: Nifty Hedged Puts – Nov 2020…

Structurally Nov 2020 series is closing the long pending island gap reversal which is an investing reference. However, emotions are running high during the...
Rajandran R
42 sec read

Leave a Reply

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