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 – 3rd May 2018

39 sec read

Nifty Futures on Wednesdays session made a high of 2 point away from April month high. Trading session is dominated by intraday buyers followed by a potential daytimeframe stop hunting. Overall sellers controlled the session during the start of the session and second is dominated by long liquidation by intraday timeframes.

Nifty Futures – Market Profile Charts

Both trading sentiment and market profile sentiment turned negative which is a potential indication for positional short setups. 4 days of one timeframing came to an end by breaking the previous day low. Next support zone available at 10696. More selling pressure is expected if the price accepts down below 10696 on closing basis. Aggressive call writing is seen at 10800CE , 10900CE , 11000CE strikes. EOD resistance still stands at 10800 levels.

Nifty Futures – Volume Delta Candles

Key Reference Levels

– Immediate Mechanical Reference at 10726 and 10785

– P shape balance – 10697

– Double Distribution Balance – 10620

Trend could turn positive only if price stays above 10800 levels and trading activity coming at higher price levels with value forming higher. On the other hand price breaking and accepting below 10698 could bring a potential test towards 10480 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.

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