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 BankNifty Fires before Election Results

36 sec read

Nifty Hourly Charts
Nifty Spot

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Nifty on the hourly charts turned to positional buy mode yesterday with a whooping 2.98% and currently the support zone comes around 6684. And Banknifty which is currently outperforming nifty grabbed a intraday gain of 5.46% still maintaining the positional buy mode since 24th April with support coming around 13159. Reverse your position if the support breaks on the hourly charts.

Banknifty Hourly Charts
Bank Nifty Spot

India VIX Hourly Charts.
India VIX

India VIX(37.07) gained around 10% and the index is very close to the 52 week high and test a new 52 week high of 38.90 on intraday basis. On the hourly charts it maintains the positional buy mode for a very long time since 7th March and the support comes around 31.01 ,only a close below on hourly charts will make India VIX to turn to negative more on short term.

Nifty Options Open Interest

The Open interest picture shows minor amount of put writing at 7000CE with highest open interest across the strike prices. As of now no major writing in put side seen.
7000CE

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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