Nifty hourly charts is in positional sell mode since 28th April and currently the resistance zone come near 6845. However Banknifty on the hourly charts still manage the positional buy mode and currently the support zone comes near 12790 and trades very close to the support zone. Reverse your trading positions if the support/resistance zone breaks on the hourly charts.
Rajandran R Follow 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 Hourly Charts Overview
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