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 – Extreme Bullishness during August Expiry

26 sec read

Monday trading session opened with a gap up with high buyers confidence and also it is a trend day in Nifty futures. Buyers confidence remains high until the end of the day. However short-term trading sentiment is getting extremely positive – sort of cautious signs of longs.

Despite the bullish confidence if Nifty Futures maintains below 11710 – 11706 band which is a cautious sign that possibly resistance is getting built around that region. It will not trigger a sell. However a possible warning sign for profit booking on longs. A short-term sell could possibly trigger below 11640 levels.

On the daily timeframe indicator sentiment still holding positive for the last 6 trading session and could continue to remain positive if price holds above 11690 levels on EOD closing basis.

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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