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.

Nifty and Bank Nifty Sentimental Analysis and Market Observation

1 min read

Nifty Daily Sentiment
Nifty Daily Sentiment

 

Nifty responded negatively to the Bihar election results (declared on sunday). Sentimental & emotional traders/investors strongly reacted to the news followed by sharp intraday recovery in the market and India VIX ends with strong decline right from the beginning of the market open. However there is no improvement in the indicator sentiment as it closed negative on Monday and followed the same on Tuesday as well with VIX moving down. It shows there is no enough panic in the market yet and the sentiment is likely to continue.

Sentimental Update after 9th November (Monday) – 3.00p.m

Tweet on Nov 10th about Declining India VIX

Post diwali Nifty futures gapped down again and closed lower with increasing VIX as panic starts kicking in. Fridays Sentimental Gap left open and the sentiment ends extremely negative. Further gap down can be expected on coming monday as the Global markets sentiment is negative on friday closing.

Gap

If monday bigger the gap down more odds that we can see intraday recovery can be seen as the sentimental gap trading rules kick in. It should be remembered that so far three sentimental gaps are left in this series. as shown in the above image as yellow candlesticks. Gap Levels 8257, 8057, 7812

Bank Nifty Daily Sentiment
Bank Nifty Daily Sentiment

Banknifty closed positive on last friday and outperformed nifty this week with a sideways action. Indicator Sentiment also turned positive. Higher odds that shorterm uptrend in progress as long as sentiment remains positive.

Overall outlook is positive in the shorter run followed by negative trend in the medium term.

For more sentimental updates during market hours connect with our twitter account www.twitter.com/marketcalls_

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.

How to Send Automated Option Orders from Excel Sheet

In this online webinar we will be discussing how to send automated orders using Microsoft Excelsheet and How to Get realtime data into Excel.
Rajandran R
14 sec read

Bearish Option Strategy: Nifty Hedged Puts – Nov 2020…

Structurally Nov 2020 series is closing the long pending island gap reversal which is an investing reference. However, emotions are running high during the...
Rajandran R
42 sec read

What Could Possibly Go wrong with Nifty?

As of last 9th Oct 2020 closing of Nifty (11914), PE ratio stands at 34.71. By any means it indicates euphoric markets. Recently there...
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More