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 Futures Facing a series of Single Print Resistance

48 sec read

Nifty Futures Monday session started with less of an excitement. Monday morning has broken Friday’s low however trading continues to be lackluster and activity started balancing around 11960-11980 levels. Very less amount of excitement is seen on Monday trading session from market participants.

Nifty managed to close below the psychological reference 12000 consecutively for the second day and Monday trading session price got rejected around 12000 levels. Short term trend still continues to be in downtrend whereas the medium term is balancing as long as price hold above the previous week low levels 11931. More acceptance below 11931 turns the medium-term trend to be on the negative mode.

On the Market Profile charts, too many single print zones are act as strong resistance for this series. Currently, resistance levels are coming around 12120-12140 band, 12040 & 11960 on the upperside that makes trading difficult for the short term buyers. as long as price holds down below 12000 levels. It is good to limit the long positions only to intraday in a very short term and focus should be primarily on the short term trend.

Surprisingly VIX shot up more than 7% despite Nifty Spot and futures trading on the positive side. weekly options Short straddler’s breakeven point for this series comes around 11842 – 12057 levels. Breaking these levels could bring strong trends as markets has been extremely coiled during November and December series thus far.

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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