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 February Future Overview – VI

26 sec read

Nifty Fut

Nifty and Bank Nifty februrary future on the hourly charts is in positional buy mode on the interim budget 2014 event and currently the support zone comes near 6096 and 10435 respectively. Revese your position to positional longs only if the resistance breaks on the hourly charts.

BANKNIFTY Fut
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Nifty Open Interest Lookup
OI

Currently 1.16 crore of Open interest built up in 6000PE strike price this means put writers have a very strong belief that 6000will as a strong support for this option series on EOD basis. So far the open interest built up in most of the call strike prices are not much enough say that call writers are confident at this moment. 6000PE, 5900PE, 6100PE are the put writers hotspot as of now.

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)

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3 Replies to “Nifty and Bank Nifty February Future Overview – VI”

  1. Dear Rajendran,

    I have a question. If suppose we have open position using supertrend and market opens Gapup/gapdown well beyond the stoploss in the opposite to the direction of our trade. What should we do in that scenario.
    For example I have short position in nifty and it closes at 6100 and the stoploss is 6130, the next day market opens at 6150 and always remains above that level. What should I do in that case?

  2. Hi Rajendran,

    Please answer the above question. I am thinking to follow your live signals but first I need to get my doubt cleared.

    Best Regards,
    Akhilesh

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