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 Top Down Analysis for Jan 2017

45 sec read

Top Down Approach provides us the macro visual perspective of the market participation. We will start with monthly charts to understand the long term participation, weekly charts to understand the intermediate term players and the daily charts to understand how the shorter timeframe players are behaving.

Bank Nifty Monthly Charts

On the broader range Bank Nifty Futures is in sideways mode between 18000-20500 for the last 7 months which indicates that clearly the market is not driven by the longer term players. Long term players dominance is less reflected in the last 7 months.

Bank Nifty Weekly Charts

Weekly charts shows how the intermediate players are positioned. On the weekly charts Bank Nifty is clearly trending down and also out of the balance zone which indicates the dominance of intermediate sellers in control and they are quite aggressive post Nov 8 demonetization.

Bank Nifty Daily Charts

On the daily charts too many consolidation is witnessed since the start of the 2016. More the consolidation zone indicates the we are dealing with the aged trend. And also the recent look below the balance and fail indicates that shorter term support zone comes around 17950 and the price is expected to rotate in the balance zone 17950 – 18800 zone. If Any breakdown below 17950 indicates shorter timeframe down trend to restore again.

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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2 Replies to “Bank Nifty Top Down Analysis for Jan 2017”

  1. Dear Rajandran Sir,

    Im big fan of your technical analysis, I spent most of my trading hours in marketcalls website.. which helps us to track Nifty, Bank Nifty and stocks on real time basis with excellent indicators like Lintra.
    Mostly i trade in bank nifty options,So I request you to give lintra AFL code if possible, so that i can back test.. make my trading decisions to suit different market conditions.

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