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 take advantage post IIP results

30 sec read

Industrial production grew at 3.4 per cent in April after contracting for two months in a row mainly due to improved performance of manufacturing, mining and power sectors and higher output of capital goods. However despite strong IIP numbers nifty plunged more than 100 points and closed at 7542 levels on friday.

Nifty Spot

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Nifty Spot on the hourly charts still holds the positional buy mode and the support zone coming around 7500 levels. Reverse the position to positional sell mode if the support breaks on hourly charts. However on contrary Bank nifty turned to positional sell mode on the last hour of friday . The resistance zone coming around 15763 levels reverse the position to positional buy mode if the resistance breaks on closing basis.

Banknifty spot

Open Interest

After strong IIP numbers call writers start targeting 7700CE, 7800CE and 8000CE by building higher open interest.

7700CE and 7800CE writers on the rise

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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