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 October Futures Overview – III

25 sec read

Nifty Hourly Charts
Nifty Hourly

 
Nifty and Bank Nifty maintains the positional buy mode on the hourly charts. Currently the support zone comes near 5953 and 10097. Reverse your position to sell mode if the support zone breaks on the hourly charts on closing basis.

Bank Nifty Hourly Charts
Bank Nifty Hourly

Will this expiry Nifty Close above 5950?

Nifty Open Interest Charts shows heavy open interest builtup in 5800PE right from the start of the series and also Open interest built up dominating in 6100CE by the weak call writers and likely to be butchered by the bullish global market cues and cues from SGX Nifty. Also Weekly Closing above 5EMA high i.e above 6000+ makes me to think that nifty will expire above 5950.

Open Interest Tracker

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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