Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
Extreme Positive Sentiment in Bank Nifty Futures
23 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.
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Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
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