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.

Does Nifty Shows Extreme Bullishness?

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Nifty Weekly Charts

Nifty Futures end on Friday with a strong bullish note. Profile Sentiment turned positive however indicator sentiment maintaining negative which brings the odds of sideways to downward markets. Call writers are still active at 11400 and 11500 strike price which puts an immediate EOD resistance at 11400 in Nifty Spot.

Nifty Daily Profile

On Friday’s trading, momentum traders appeared at the open all in a sudden despite weaker closing on Thursday and took the price to all-time high. Speaking about the higher timeframe Nifty is one timeframe on the weekly charts for the last 6 weeks consecutively making higher highs and higher lows as well.

If Nifty Futures trading below 11400 is not a bullish sign could bring a potential test towards 11180 (previous Gap reference) and 11117 (Uncleared G2 Low) in a time duration of two weeks.

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.

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