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 Positive Sentiment in Bank Nifty Futures

22 sec read

Bank Nifty Futures tested an intraday high of 27425. Trading sentiment was getting into extreme which possibly indicates overbought levels.

Short term corrections can be anticipated at this levels towards 27180 and 27105 levels with immediate quick flip resistance comes around 27385-27400 band.

Price holding below 27385 is very much crucial for trend reversal to happen. Also current quick flip long trade setup is almost 6 trading days old which brings  statistical mean reversion odds going by the historical backtest.

Bank Nifty Daily Futures – Trading Sentiment

Even if price gaps up and later price started trading below 27400 levels indicates weakness towards 27180 and 27105 levels in a very short term.

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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