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 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
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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 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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