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 – 13th Mar 2018

1 min read

Nifty Futures on Monday Trading session opened with a gap up. Post that price entered the previous day range and formed a open test drive day. Buyers confidence maintained throughout the day. Day turns out to be a normal various day as the price elongation happens in the second half of trading session. Point of control not migrated however price migrated for the day indicating more players are now chasing the price more we are dealing with momentum traders.

10200PE and 10300PE writeres increased their open interest showing signs of 10200 and 10300 as short term support for the next two weeks. On the daily charts short term trend continues to be trending higher with price now back into the larger balance which also makes me to think about is it some sort of look above the balance and fail (where price spends below the balance for 3-4 days below the balance and now price is back into the short term balance). IF yes then the target destination comes around the other side of the balance 10632 again. (This is one scenario if it come, it could come faster)

Nifty Daily Charts

Failed Auction at 10300 levels, Fridays Prominent POC at 10269 and Partially filled gap at 10441 got cleared on Mondays trading session.

Nifty Futures Market Profile Charts

Market Profile Key Reference Levels

1)Spike Base at 10355

2)Prominent POC at 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)Poor High at 10442

8)Weaker Low at 10155

9)Short term distribution balance 10387

As long as price holds above short term reference 10387 profile sentiment remains positive. Also indicator sentiment is holding positive for last two trading session. As long as price holds above 10386 the next key reference level to monitor are Prominent POC at 10487, Prominent POC at 10568 and Mechanical stops zones 10616-10638. Profile sentiment turns negative if price likely to close below 10387 on 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.

[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

How to Send Automated Option Orders from Excel Sheet

In this online webinar we will be discussing how to send automated orders using Microsoft Excelsheet and How to Get realtime data into Excel.
Rajandran R
16 sec read

Bearish Option Strategy: Nifty Hedged Puts – Nov 2020…

Structurally Nov 2020 series is closing the long pending island gap reversal which is an investing reference. However, emotions are running high during the...
Rajandran R
42 sec read

Leave a Reply

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