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)

Call writers active at 7500. Will 7500 holds the resistance?

45 sec read

Nifty Hourly charts
Nifty Spot

Nifty on the hourly charts turned to positional buy mode very recently with support coming around 7234. Reverse your position to positional sell mode if the support zone breaks on the hourly charts. However on contrary banknifty maintains the positional sell mode with resistance zone comes around 15432 and trading very close to the resistance zone. Reverse your position to positional buy mode if the resistance zone breaks on the hourly charts.

Banknifty hourly charts
Banknifty Spot

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June Option Series Open Interest Lookup
The June Option series Open Interest picture shows 7500CE call writers are active so far which in turn reflects a possible resistance around 7500 on EOD basis. 7000PE on the put side has the higher open interest on the put side however far less when compared to 7500CE. As the option series is very new it is still very early to judge the based on the open interest view but still observing the open interest gives you more idea about this dynamic market.

7500CE

India VIX hourly charts

India VIX is in strong and prolong sell mode since the election 2014 results. Currently the hourly resistance comes around 19.57. The Lower VIX shows naked option players are not much greedy as they are in May 2014 Election results season.
India VIX

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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