Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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

[wp_ad_camp_5]

 
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 Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Nifty Overheated and Will Nifty Pullback?

Nifty is racing towards an all-time high and in the current swing most of the price action happens in the form of gap up...
Rajandran R
30 sec read

Bank Nifty Futures – Market Profile Charts and Overheated…

Bank Nifty Futures - Market Profile Charts and Overheated Emotions - September Series
Rajandran R
18 sec read

Nifty Futures – Increased Volatility and Downside Odds –…

Nifty Futures during the last couple of days are switching back to increased volatility. ATR is a greater measure of volatility. Because of the...
Rajandran R
36 sec read

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 ?

Leave a Reply

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