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 Futures at All-Time High What Next?

38 sec read

Nifty on Tuesday trading session ended positive and close around fresh all-time high and it is been a one-way rocket since the Iran Missile Attack.

Short term sentiment continues to be on the positive side for the last 5 trading sessions and price is one timeframe on the daily timeframe. Immediate supports got built around 12345 levels

Jan Monthly Expiry suggests a short term trading range between 12000 – 12500 levels and so a mixed response is a possibility here favoring neutral strategies in a very short term.

Late spike is witnessed on Tuesday trading session and hence the spike rules are applicable for Wednesday trading session.

Price holding above 12345 is likely a bullish scenario. However, any acceptance below spike base presents a short term shorting opportunity towards the weaker POC 12240 levels. The major support zone got built in the band of 12200-12240 levels.

Short term inventory goes long to too long. In a very short term traders have to be a bit cautious about their short term long holdings as the emotions from the short term momentum traders are running higher.

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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