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 Future Likely to Get out of Short Term Compression?

45 sec read

Nifty Futures is still not out of compression yet and continuing with the 10600 – 10900 range for July series. More frustration is likely among the trend followers and short-term direction index futures traders. Volatility is flip-flopping. It is always good to recognize this sort of tough game for any kind of directional players that will eventually reduce overtrading.

Despite the Tradewar concerns, Indian markets showed strong short-term resilience. What is really concerning is the Chinese markets, which often acts like a leading indicator and it is crashed almost 5% this week. FIIs holding a negative view in index futures and mad sell-off continuing in the cash segment is another addon negative concerns to regret playing longs.

From the Market Profile Charts has three major reference level back to back secure high at 10838, back to back failed auction 10818 and Open Rejection Reverse levels 10797 would act like a tough resistance levels. Nifty futures tooks almost 7 trading sessions to build these short-term resistance levels.

Nifty Breaking the intermediate support zone 10670 on EOD basis is really a greater concern which could take Nifty Futures to the deeper downside. Which also marks the end of the compression in Nifty Futures. If in case 10670 levels are likely to broken then 10538 & 10414 are the immediate reference levels one can expect a price revisit.

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.

Converge Meet 2020 – Preview Webinar Series

I am very much excited to announce the 5th Edition of Converge 2020. This time converge 2020 comes with 5 Days of Virtual Market...
Rajandran R
1 min read

Bearish Option Strategy: Nifty Hedged Puts – Nov 2020…

Structurally Nov 2020 series is closing the long pending island gap reversal which is an investing reference. However, emotions are running high during the...
Rajandran R
42 sec read

What Could Possibly Go wrong with Nifty?

As of last 9th Oct 2020 closing of Nifty (11914), PE ratio stands at 34.71. By any means it indicates euphoric markets. Recently there...
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More