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 Liquidation Phase Continues

40 sec read

Nifty Futures started its liquidation phase since the start of Karnataka election results. Clients are liquidating their major long positions and parallelly PRO+DII+CLI also exiting their shorts positions. Most of those long liquidations so far resulted in a net negative trend.

Yesterday’s price action, buyers controlled the day. Overall most of the buying activity was nothing but old shorts covered from PRO+DII+Clients. When comes to FIIs they are maintaining neutral to bearish stance for current series. However, no fresh long additions have seen.

Though market ended in a short covering mode. Some Mechanical stops got built at day low. Markets would have tested the patience of Thursday’s late emotional sellers (mostly weaker hand sellers). Trading sentiment turned positive for this series yesterday.

10500 remains the key EOD reference level (as put writers are back in the game). However, if the liquidation phase is going to continue for next couple of days breaking 10500 could result in serious liquidation as more and more weaker reference levels in profile are seen where more and more buyers those who hold longs in index futures will arrive for liquidation.

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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