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 Bouncing Back from the Bottom Again?

56 sec read

Nifty Hourly Charts
Nifty Fut

Nifty futures tested a low of 8001.1 on tuesday follow by a recovery very next day. The hourly timeframe in both nifty futures and bank nifty futures turned to buy mode in the second half of the yesterdays trading session. Currently the support zone comes around 8018 and 17436 respectively. Trend could reverse if the support zone breaks on the hourly charts on closing basis.

Bank Nifty Hourly Charts
BANKNIFTY Fut

Nifty EOD Charts

Nifty EOD charts with William VIX FIX turning down from the uptrend move suggests a possible bottom in place. This will negate if nifty closes below 8080 on hourly basis suggests a possible weakness on the EOD charts.

Nifty EOD

 
Nifty Open Interest Lookup

Nifty Option Open Interest Chart suggests that 7800PE and 8000PE holds the highest open interest on the put side and 8300CE and 8500CE holds higher open interest on the call side. Major Open Interest addition seen in 7800PE.

OI

Sector Overview

RRG Studies shows that CNX Metal is likely to start outperform in couple of session. CNX IT, CNX Infra are the possible outperformers. CNX Auto momentum is increasing and could enter from lagging to improving quadrant in couple of sessions.

Falling momentum in CNX Realty, CNX PSU Bank, CNX Pharma suggests strongly underperforming with respect to Nifty.

RRG Graph

Economic Indications
12th June – Indian Industrial Production YoY numbers
12th June – Inflation YOY Numbers
15th June – WPI Inflation YOY Numbers

Update 12:30p.m 11th June
Nifty Futures Hourly Charts
Nifty Fut

Bank Nifty Hourly Charts
BANKNIFTY Fut
Hourly charts reversed to downtrend in Both Nifty and Bank Nifty Futures

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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