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 Future March Overview – V

58 sec read

Nifty Hourly Charts
Nifty Hourly

Last friday Nifty and Bank Nifty march futures turned to positional sell mode on the hourly charts currently the resistance zone comes arround 6559 and 12269 respectively. Reverse your position to buy mode if the resistance zone breaks on the hourly charts.

Bank Nifty Hourly Charts
Bank Nifty Hourly

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Nifty Open Interest Lookup

PE writers

So far PE writers are dominating the march series right from the start of the series. However the open interest built up shows weaker position as there is no strong open interest built up. 6200PE and 6400PE holds almost equal amount of open interest. And PE writers are not much confident as February 2014 option series.

Weekly Fundamental Wrapup

India’s wholesale-price index weakened to a nine-month low of +4.68% on year in February from +5.05% in January and came in below consensus of +4.9%.

The falling WPI adds to declining CPI as the the Reserve Bank of India focuses on reducing inflation, with the RBI hiking interest rates three times since September.

“We need to see a sustained drop in inflation for the central bank to start cutting rates,” strategist Tirthankar Patnaik said before the WPI report. “We don’t expect the RBI to change its stance in a hurry as price pressures remain in the economy.”

Indian consumer inflation fell for the third consecutive month, dropping to 8.1% on year in February from 8.79% in January and coming in below consensus of 8.3%.

The decline comes as the Reserve Bank of India considers setting a CPI target after having raised interest rates three times since September.

Meanwhile, industrial output surprisingly grew for the first time in four months, expanding 0.1% in January vs expectations for a contraction of 0.9%.

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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One Reply to “Nifty and Bank Nifty Future March Overview – V”

  1. Please update hourly eod chart on daily basis. I want to follow this mainly for nifty trading.

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