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 – 20th Mar 2018

41 sec read

Nifty Futures today tested the visual destination level 10120. If price is not able to withstand above 10120 in the very short term one could expect a liquidity crisis in a very short term which could bring a push down below 10000 psychological reference levels. Interestingly the next visual destination is roughly around 9696 levels.

Nifty Futures Market Profile Charts

Nifty Futures continued is Fridays selling pressure on Mondays trading as well. India VIX is up and around 15.82 levels. Selling confidence is witnessed throughout the trading day. Some good put writing activity is seen around 10000 levels with a decent Open Interest addition in 10000PE levels. Price manages to close below 200 Day Moving Average. Definitely it would have attracted the eye balls of higher timeframe players.

Todays rally high 10160 is likely to act as immediate reference levels on the upper side. Current low is not secured yet. May be some more downside is left.
Its time to approach shorts cautiously as more and more short term sellers are in control.

Breaking the psychological mark 10000 levels could open one more round of fresh selling which also having a higher possibility of triggering massive liquidity aka stop hunting of higher timeframe players.

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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