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 BankNifty Fires before Election Results

36 sec read

Nifty Hourly Charts
Nifty Spot

 
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 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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