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 – 27th Feb 2018

54 sec read

Nifty Futures continued its Fridays sentiment, opened gap up above the previous week high levels with a greater confidence on Mondays Trading Session. Confidence of the buyers maintained throughout the day. On the Daily timeframe Nifty Futures looked below the balance and now back into the balance and filled the balance completely.

Nifty Futures Daily Charts

We also talked about the Strong ORR levels at 10343 where responsive buyers came whenever the price plunge below the strong ORR levels during February expiry. such multiple attempts at any strong support levels will weakens those levels. Now its time to approach the current trend in a cautious manner and now more and more people would be chasing the price alone rather than giving importance to such weakened reference levels.

Nifty Futures Market Profile Charts

Key Reference Levels

Market Profile Key Reference Levels

1)Poor Low at 10360

2)Prominent POC at 10380 and 10700

3)Strong ORR at 10343

4)Previous Week Low at 10315

5)Previous Week High at 10515

6)Pullback Low – 10588

7)Mechanical stops at 10614

8)P shape balance at 10475

9)Weekly Gap at 10724(upper side) and 10537(down side)

Short term supports are at 10588 levels. Nifty is likely to take out the Mechanical stop levels 10614 at Tuesdays trading open session.Price has to close below 10588 levels for any meaning full change in the current uptrend (i.e positive mode to negative mode). Next reference levels to watch Prominent POC at 10700 and Weekly Gap 10724 levels. However ORR levels at 10343 is a concern for this series as price have higher probability in testing towards those reference again in short term.

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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