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 – Post Budget Outlook

42 sec read

Nifty Hourly charts
Nifty Spot

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Nifty and Bank Nifty on the hourly charts maintained the positional sell mode currently the resistance zone come around 7808 and 15452 respectively. It should be noted that there was a clear divergence between nifty and bank nifty as nifty was making high in the past bank nifty was lagging and unable to break the newer highs. Reverse your position to positional sell mode if the resistance zone breaks on the hourly charts.

Bank Nifty Hourly Charts
Bank Nifty

India VIX Hourly charts

India VIX on the hourly charts maintains the positional sell mode and currently the resistance zone comes very close to 18.78 respectively. Reverse your position to positional long if the resistance zone breaks on the hourly charts.

India VIX

Open Interest Build up

It should be noted that open interest built up in 8000CE strike price crossed the 1 crore mark. Active call writing seen in 7800CE and 8000CE. Options writes are betting that nifty will close below 7800 for the current option series.

Open Interest

Exchange Turnover
Most of the exchanges Shows a improved turnover due to high participation in the market. And NSE FNO on the union budget day recoreded a highest turnover of 4.4 lakh crores.
Exchange Turnover

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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