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 Strategy Overview Post Election Results

32 sec read

Nifty Hourly Charts

Nifty Spot

 
Spot Nifty is in positional buy mode on the hourly charts since 9th May and Bank Nifty in buy mode since 22nd April. Currently the support zone comes near 7084 and 14365 respectively. Reverse your position to sell mode if the support zone breaks on the hourly charts.

Bank Nifty Hourly Charts
Bank Nifty

Nifty Options Open Interest
Open Interest Nifty

As of now 7500CE and 8000CE has the higher open interest which indicates a possible resistance at 7500 for the current month. As Nifty Responded with a sharp reversal from the high on Election Results Event once can conclude that smart money started shorting 7500 and 8000.

SGX Nifty Update
SGX Nifty

Currently SGX Nifty is trading around 7306. Probably much hyped markets are over by now. And one can safely assume that no circuit freeze around the corner after election results. The 2009 Election Results and the Market Reaction to the results are nothing but white swan 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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