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 – 14th Feb 2018

42 sec read

Nifty Futures opened gap up on Monday Morning followed by two way auction continued throughout the day filled with intraday choppiness. Trading confidence was relatively less as the opening auction turned out to be open auction outside the range. Value remains higher throughout the day price manage to sustain above 10480 levels.

Nifty Futures Market Profile Key Reference Levels

1)Low Made on 6th Feb – 10300 is a poor low, unsecure low and psychological reference as well. Current swing low is a questionable one.

2)Poor Structure formation on last Friday(9th Feb).

3)Prominent POC formation at 10675 on 5th Feb 2018

4)Weekly Gap at 10721

5)Spike Base at 10814

Global Market Sentiment

Though on Last Friday US Markets managed to bounce out of the intraday losses with follow thro on Monday trading, most of the global markets managed to rebound significantly except Nikkei (down by 0.65% on monday).

Short term supports built around 10480 holding it will manage nifty in a broader range between 10480-10725. Breaking the short term support zone will bring a considerable downtrend towards 10300 and 10100 levels. Weekly gap & the spike reference at the top around 10725-10814 might act as a intermediate resistance band which is not quiet easy to penetrate for this series.

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.

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

What Could Possibly Go wrong with Nifty?

As of last 9th Oct 2020 closing of Nifty (11914), PE ratio stands at 34.71. By any means it indicates euphoric markets. Recently there...
Rajandran R
1 min read

Nifty Futures Short Term Overview – July 2020 Series

Markets are trading calm compared to the Month of March, Apr, June 2020. Volatility cooled off and trading ranges get smaller and smaller. However,...
Rajandran R
25 sec read

Leave a Reply

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