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)

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 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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