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 – 15th Feb 2018

1 min read

Nifty Futures opened within the range on Wednesday Morning followed a breakout towards previous day high in the first 30min of trading. Post breakout, compressed two way auction continued throughout mid of the day, filled with intraday choppiness. Trading confidence was relatively less. Value remains higher throughout the day though price plunged in the last 30 minute of trading and spike rules applies on thursday trading session. Day also ended with Failed Auction at day high – 10587

Despite Positive IIP numbers – PSU Banking stocks and Bank Nifty index holds the selling pressure as RBI revises norms for NPA resolution. Nifty PSU down -4.7% for the day. Nifty Spot Adjusted close maintained exactly at 10500 levels where put writers are currently active at those levels (Currently considered as the expiry support). Nifty spot maintaining below 10500 is technically not a good sign might attract lower 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 and 10547 on 14th Feb 2018

4)Weekly Gap at 10721

5)Spike Base at 10527

6)Failed Auction at 10587

Short term supports built around 10500 (spot levels) holding it will manage nifty in a broader range between 10500-10640. Spike rules apply for thursday trading. Nifty Futures maintaining below 10527 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.

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