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 Critical Support Zone

38 sec read

Last week nifty futures completely entered in a sideways mode. The entire 5 trading sessions ended up in range-bound price action between 12318 – 12412 levels. Too many short term buyers competed in the last three trading sessions building a short term support band in the range of 12318 – 12340 levels.

Last Friday trading started with a news based selling followed by an early morning pullback. Lower volumes contributed to the dull boring markets throughout the Friday trading session which failed to bring a yet another all-time high.

The short-term trading sentiment is holding positive and the price is trading near the critical support zone. If price breaks the balance and trading above the balance is positive for the immediate short term. Or any break down below 12340 levels could bring short term liquidation from the short term traders to a possible destination trade towards 12240 levels on the downside.

At this point in time trading range for this series is likely to be around 12000-12500. Any upper side breakout from the balance is likely to expand the range to 12000 – 120700 levels for Jan 2020 expiry.

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.

[Option Strategy] Hedged Futures with OTM Options to Save…

These days for Retail Traders trading in futures trading requires a huge margin. Approximately 1.65 Lakh per lot is required to carrying forward future...
Rajandran R
1 min read

[Limited Period] Free Mini Certification Course on Market Profile

Market Profile is one trading tool that professional traders would never like to miss in their trading arsenal. This Mini Course on Market Profile...
Rajandran R
1 min read

Beginner’s Guide to Market Profile

Kickstarting your market profile learning? then you cannot miss this webinar where you get to know the basic building blocks of Market Profile and...
Rajandran R
23 sec read

Leave a Reply

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