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.

Extreme Exhaustion in Bank Nifty Hourly Charts

24 sec read

Bank Nifty futures as of last Friday made a low of 35642.6 with extreme indication – signals momentum exhaustion on the hourly timeframe as it reached -3 standard deviation levels. Bank Nifty still trading above the previous monthly low 35459 levels and holds a multi-week breakout failure pattern since the last two trading weeks which possibly brings medium-term uptrend.

Last Friday Bank Nifty formed a b shaped profile structure indicating a long liquidation and thinking from the bullish perspective only price acceptance above 36075 could bring more positional bullish trading odds and could also bring a possible bullish trading sentiment and medium-term trend has the odds of revisiting towards the R-PPOC levels – approx towards 38300 levels..

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.

Extreme Exhaustion in Bank Nifty Hourly Charts

Bank Nifty futures as of last Friday made a low of 35642.6 with extreme indication - signals momentum exhaustion on the hourly timeframe as...
Rajandran R
24 sec read

Nifty Hedged Futures – October Series -Long Liquidation Odds?

Nifty hits 18000+ levels on an intraday basis. However, the second half of the day price managed to drop from the intraday high and...
Rajandran R
45 sec read

Nifty Hedged Futures – October Series -Short covering Odds?

Nifty Futures ended negative as on last Friday and despite trading sentiment maintained negative price however managed to pull back from the lows after...
Rajandran R
40 sec read

Leave a Reply

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