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.

Momentum Slowdown in Nifty Futures

47 sec read

Momentun Decline

In the last week we had seen aggressive short covering from shorter timeframe sellers followed by lack of momentum post the breakout of 8800 zone. In the last three days again we started making fresh three day consolidation in the range 8800-8860 zone indicating that trend is getting tired and whomever trading this zone is most likely dominated by shorter timeframe buyers and this behavior also resembles that upside is very limited and one should prepared to trade with reversal mindset. Momentum Indicator is marginally up but subdued. This is the phase where the crowd cheers for every small up trends.

Daily Sentiment
Daily Sentiment

Daily Sentiment indicator is holding positive. However Weekly sentimental indicator is negative for the last three weeks. This indicates that price reversal below 8800 or the price consolidating below 8860 could drag the price even lower.

Weekly Sentiment
Weekly Sentiment

India VIX
India VIX

India VIX is currently in the declining phase since mid of june 2016 and currently at 12.9 very close to the all time low indicating that fear is completely eliminated from the markets.

Open Interest
NIFTY OI

Open interest is now currently maintaining the expiry range 8600-9000. Put writers are currently aggressive at 8500PE and 8600PE, Call writers are aggressive at 9000CE. And the Participation Open Interest indicates that FII’s and Clients piled up their inventories in futures to the extreme.

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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