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 Futures Positional Trend Update

1 min read

Markets across the globe plunged due to economic data from Europe and Japan showed signs of recession. FIIs sold nearly Rs 4000 crore of Indian equities in the month of October. Banking stocks shows strength. TCS and HCL are the top loosers in nifty post their Q2 Result announcement.

Nifty Futures Hourly Charts
NIFTY V6

 
Nifty Futures continues its positions sell mode right from 24th September onwards and currently the resistance zone comes around 7997 .Reverse your position to positional buy mode if the resistance breaks on the hourly charts.. On Contrary Bank Nifty futures maintains the Positional Buy mode and currently the support zone comes around 15349. Reverse your position to positional sell mode if the support breaks on the hourly charts.

Bank Nifty Hourly Charts
BANK NIFTY V6

India VIX Hourly Charts

Volatility in the Market is slowly and steadily increasing and at this point of time the current value around 16 suggests no much of panic in the market overall and IndiaVIX continue to be in the positional buy zone and with the given elevated global volatility one can expect the same style of increasing volatility in Indian Market too.

India VIX Hourly

Open Interest Charts

After nifty closing below 7800 on EOD basis 7800PE writers are overridden by 8000CE writers as currently they are the active and highest open interest builders across the strike price. And now option writers strongly believe that 8000 will be the resistance zone for october month expiry.

Open Interest

Nifty Weekly Charts

Long Term Picture : Applying the principal of 5EMA high-low strategy over the Nifty spot weekly charts suggests that nifty is in long term down trend for the last two weeks and the long term weekly resistance is near 8005. Only closing above 8000 on weekly basis could turn the long term picture positive.

Nifty Weekly

Major Economic News for this week

US-based economist Arvind Subramanian on Thursday took charge as chief economic adviser in the finance ministry,
Sensex falls for fourth week in row; longest losing streak since Aug 2013

Upcoming Major Economic Events

October and Novemeber 2014 economic events

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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2 Replies to “Nifty and Bank Nifty Futures Positional Trend Update”

  1. hi sir i need clarification on back testing these parameters when i applied on our super trend, it shows different executed price but not actual price given on the arrow of buy and sell.

    How to set the right parameters in back test settings

    how to rectify it kindly help

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