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 – 28th Feb 2018

38 sec read

Nifty Futures opened gap up however reverses all its gains in the first hour of trading and ended up with a classical ORR setup with b shape structure (long liquidation). Initial confidence of sellers are dominated in the first half of the session followed by dull boring balancing day in Nifty Futures. Downside pressure is maintained in Bank Nifty index due to resumed PSU Bank selling pressure. Nifty PSU Bank Index is down by 3.49% for the day.

Nifty Futures Market Profile Charts

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)b shape balance – 10588

7)Mechanical stops Upper Side 10617 and 10638

8)Mechanical stops Lower Side 10539

8)P shape balance at 10475

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

Trading Sentiment turned from positive mode to negative mode for the day. In short term 10588 is likely to act like a short term resistance. Price maintaining below 10588 could bring more selling pressure and short term correction towards 10540 and 10343 levels back again. However price accepting above 10588 will bring further short covering towards 10640 and 10700 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.

Sell in July and Go Away – July Market…

Markets have been one-sided in Nifty Futures this week. However, the development of information is quite serious and the market-generated information brings the odds...
Rajandran R
28 sec read

Short Covering from an Extreme Short Term Inventory –…

Nifty trading inventory goes short to too short as on last Monday trading session followed by a short-covering rally and this inventory adjustment process...
Rajandran R
22 sec read

State of the Market – 20th June 2022

It's Monday morning and SGX Nifty is trading sub 15300 levels and a little bit of nervousness in the markets as the last Thursday's...
Rajandran R
1 min read

Leave a Reply

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