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 Mar 2018

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Nifty Futures opened gap up on Wednesday trading session removed some of the weaker hand sellers in the first hour of trading session. Rest of the day – intraday buyers piled in at very mechanical and visual references. Interestingly the dip buyers came throughout the day (mostly weaker hand buyers) with value forming higher relative to the Tuesdays trading session.

Nifty Futures Market Profile Charts

Day Finally turned out to be balanced day ahead of FOMC release (FED meet) and Open auction outside the range style price rotations seen but the rotations came very wider. Indicator sentiment holds negative and market profile sentiment turned positive.

Trading scenarios

Sideways to uptrend can be expected if price holds above the rally high reference 10213 levels. Profile sentiment could turn negative if price maintains below 10213 levels. Overall short term resistance is still expected around the distribution reference 10256. Crossing 10256 could bring a potential uptrend until then it is a sell on rise markets.

On the downside we have prominent POC at 10142 and Weak ORR which is also a unsecured low at 10102 which still have higher odds of testing on the downside. Anything below that, one could expect serious inventory correction from higher timeframes as explained in the previous section

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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