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 – 22th Feb 2018

54 sec read

When markets are surrounded with rumors and fake hoaxes its always good to take a bird eye view to understand the trading competition in a better way. From the EOD charts Strong ORR 10343 levels acting as a strong demand zone on EOD closing basis. Responsive buying came whenever price dipped below 10340 levels and managed to close above/around 10340 levels.

Strong ORR is a critical support level as price rejected for the very first time during Gujarat Election Results. However more the responsive activity happening at certain level more it looses it importance of support. 10340 is a critical level support for any positional longs.

Nifty Daily Charts

Market Profile Key Reference Levels

1)Poor Low at 10331

2)Failed Auction at 10338

3)Strong ORR at 10343

4)Prominent POC at 10374

5)Poor High at 10425

6)Double Distribution balance – 10554

7)Mechanical Reference at 10618

Nifty Futures – Market Profile Charts

Nifty Futures is in a sideways move for the last three trading session as the value area is continuously in overlapping mode. More over on the daily timeframe it is a back to back inside bar. Which says that last two days we are dealing with more of short term and intraday players rather than long term money. Last two trading days more Trading activity centered around 10380 levels.

Two Scenarios I would like to discuss here from a short term perspective

1)Acceptance above 10427 forms a look below the balance and fail on the daily timeframe. destination target will be 10624

2)Acceptance below ORR 10340 – bring towards immediate visual reference on the down side 10100 levels.

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

One Reply to “Nifty Futures – Market Profile Analysis – 22th Feb…”

Leave a Reply

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