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 – Market Profile Analysis – 12th Mar 2018

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Tops down analysis indicating Monthly timeframe is balancing, Weekly timeframe is trending down and Daily timeframe is trending up. Kind of mixed timeframes which indicates that markets are in the phase of total uncertainty where most of the players opinion are not aligned in the same direction. Every timeframe has their own opinion about markets at current juncture.

Post the Strong ORR levels breakdown 10340 levels Nifty Futures starting trading below the levels for 3 consecutive session with a slow steady uptrend though not a easy give for both short term and intraday players perspective. Thats how the markets are. Your trading edge lies in unraveling those complex design systems.

US Markets rallied on last Friday as trade war concerns took a backseat to economic optimism following a U.S jobs report. Volatility is coming down globally and also SGX Nifty is indicating a positive start around 10340-10350 range.

10200PE writers are quite adamant on last two trading session protecting 10200 levels in Nifty Spot. Most likely 10200 remains as support zone for next 2 weeks from here and a temporary rally could extend from here on the upperside.

Nifty Daily Charts

Fridays trading session brought a balance around 10269 with a prominent POC formation. Though price ended lower value was higher on last Fridays session. Interestingly value is likely to be higher on Mondays trading as well and likely to one timeframe on the daily charts that could indicate the short term buyers confidence.

Failed Auction is witnessed on Fridays trading at Friday high which is also a psychological reference 10300. Fridays trading also cleared some of the Thursdays poor structure. Serious sellers are largely missing on both Thursday and Friday trading session.

Nifty Futures – Market Profile

Nifty Futures – Key Reference Levels

1)Spike Base at 10355

2)Prominent POC at 10269, 10481, 10568, 10700

3)Previous Week Low at 10155 and Prev Week High at 10437

4)Mechanical stops Upper Side 10617 and 10638

5)Weekly Gap at 10724(upper side).

6)Double Distribution Balance 10466

7)Partially Filled Gap 10440 (1 point shy )

8)Weaker Low at 10155

9)Failed Auction & Psychological reference at 10300

Short term short covering in progress with temporary resistance at the previous spike base 10355. Price acceptance above spike base could bring the target destination towards 10440 levels.

What to Watch on Monday

Value building higher with strong buyers confidence showing most of the day. Fading the Monday gap indicates lack of serious buyers. Spike acceptance at 10355 has to be monitored for any continued buyers confidence.

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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