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 with Extreme Positive Sentiment

48 sec read

Bank Nifty is currently trading at the swing extreme with 10-day ADX holding above 40 levels which indicates extreme positive sentiment with mean reversion odds If ADX value likely to start sliding below 40.

Yesterday bank nifty had one of the lowest range of 281 points. And the last couple of days ATR started falling from 1000+ levels to 530 levels.

Bank Nifty 30min Charts

Bank Nifty 30min chart is in buy mode from 9th Oct onwards. Its been 25 trading days since the last buy signal. Historically 25 trading days of holding up the signal is an outlier and the last two trading sessions price has been consolidating in a very narrow range with immediate quickflip supports around 30957 levels. Any Breakdown below 30957 levels could possibly bring a test toward 30500 & 30400 levels.

Bank Nifty Market Profile

There are two key references to watch out in Bank Nifty. 14th November – poor structure levels and 15th November Bank Nifty – Failed Auction levels are the immediate point of price mean reversion. which brings a possible price reversion down below 30500 levels.

Two day balancing is seen and the price is still struggling to take out the previous week high and last Friday high. Balance rules apply in this case in the upcoming sessions.

The overall trading sentiment is at the extreme. Any break below 30950 levels could bring a possible test towards 30500 and 30400 levels in the short term.

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)

Nifty Overheated and Will Nifty Pullback?

Nifty is racing towards an all-time high and in the current swing most of the price action happens in the form of gap up...
Rajandran R
30 sec read

Bank Nifty Futures – Market Profile Charts and Overheated…

Bank Nifty Futures - Market Profile Charts and Overheated Emotions - September Series
Rajandran R
18 sec read

Nifty Futures – Increased Volatility and Downside Odds –…

Nifty Futures during the last couple of days are switching back to increased volatility. ATR is a greater measure of volatility. Because of the...
Rajandran R
36 sec read

Leave a Reply

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