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 August Overview

44 sec read

Last friday nifty lost close to 118 points intraday due to fears of a decline in global money flows if the United States, increases interest rates and due to Argentina’s second default in 13 years. The RBI’s monetary policy review on Tuesday could guide us the further direction and could give us clear cut view on the market direction. It should be noted that FIIs infuse over $26-billion so far in 2014; $6-billion in July alone but still USDINR trading below 4 month low.

Nifty Spot Hourly Charts

Nifty Spot

 
Nifty on the hourly charts turned to Positional Sell mode with resistance zone around 7814 on contrast Bank Nifty maintains the Positional Buy mode and trading very close to the support zone near 15080. Any breakdown below 15080 on hourly close could turn bank nifty into positional sell mode.

Bank Nifty Hourly Charts
Bank Nifty Spot

India VIX Hourly Charts
India VIX still maintains the positional sell mode since mid of july 2014 and currently the resistance zone comes under 15.73. Any breakout would like to show increased volatility in the market.

India VIX

Nifty Options Open Interst Lookup

Currently 7300PE holds the highest open interest amoung the strike price. Its quite early to point of that 7300 could act as a support zone as the August Option series just started.

Open Interest

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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One Reply to “Nifty and Bank Nifty August Overview”

  1. Hi Rajandran,

    I am recently came to know about this site and started following this site and your articles daily. I amazed to see your depth knowledge in both Technical as well coding AFLs etc for markets.

    Love to follow all your articles, indicators going forward too. Just one question under EOD signals why is that both EOD and Hoursly charts are not updated so long though you given specific time at which it will automatically updated. Is there anything I am missing here ?

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