Nifty Daily Sentimental indications are positive before the FED meet and Bank Nifty continue to be negative and at highly oversold levels. However what worrying is the weekly sentiment in Nifty and Bank Nifty turned negative last week and so far this week continues to be negative. Only Nifty weekly price distributions above 7800 sounds positive in the long run and retail traders are confident of writing 7600CE for the current option series. Failing to close above 7800 on the weekly basis indicates more weakness in the medium term. It should be noted thatdownside gap reference level 7054 left unfilled for more than one and half years.
Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.