Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty and Bank Nifty Futures October Overview

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The steep fall in Nifty and Bank Nifty futures got arrested after S&P revises India’s sovereign credit outlook from ‘negative’ to ‘stable’. The global rating agency added that India could possibly see upward revision of its ratings from BBB-/A-3, provided it reverts to real per capita GDP growth of 5.5%, and its fiscal, external, and inflation metrics improve. However FIIs have sold equities worth more than Rs 3,150 crore in the last four consecutive trading sessions.

The Reserve Bank of India’s (RBI) monetary policy review on 30th September would be the key trigger for market movement. Indian Stock Exchanges will remain closed on Thursday and Friday for Mahatma Gandhi Jayanthi and Dussehra respectively.

Nifty Hourly Charts
Nifty Futures

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Nifty and Bank Nifty futures turned to positional sell mode on 23rd of September and currently the resistance zone comes around 8105.73 and 15840 respectively reverse your position to positional buy mode if the resistance zone breaks on the hourly charts.

Bank Nifty hourly Charts
Bank Nifty Futures

India VIX Hourly Charts

After a prolong sell mode in India VIX finally there is some volatility on cards and turned to positional buy mode and currently the support zone for India VIX comes around 10.78 and we can expect a little descent increase in volatility in the upcoming sessions.

India VIX

Nifty Open Interest Build Up
The Higher open interest build up is seen in 7800PE and 8200CE and the expected market range as of now is between 7800-8200 for this expiry however as the october expiry is very young it is good to observe the development of open interest positions to get further cues from it.
Nifty Open Interest

Upcoming Economic Events
Economic Calendar - upcoming

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

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4 Replies to “Nifty and Bank Nifty Futures October Overview”

    1. Most of the datafeed providers offer it on subscription basis however there is a free open source software called NestRTD using that you can extract data to your amibroker software from Nest/Now Trading Terminal

  1. hi,

    i am a regular visitor to your website. i am looking for intraday nse index and mcx live data. does your firm provide such data for mt4? if so, the details regarding the same.

    kinda off topic question? Are you aware of the music/album played during deepawali show on tv18.for years. Sarangi, I guess. what a question, isn’t it? thanks alot

    anyways, wishing you and all your readers a very happy dussehra/vijayadashami.

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