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 – 9th Mar 2018

46 sec read

Trading requires process complex information into simple ideas. Thursdays trading started with price opening within the range initial high confidence was higher however it got fades sooner and starts getting into balancing mode. Interestingly markets took support exactly at the tuesdays low (prev day low) and started one timeframing during mid of the day.

The day was more dominated by shorter term buyers and intraday sellers followed by stop hunting against the intraday sellers. Bank Nifty showed more confidence in the second half than the Nifty Futures.

Though Nifty Futures low is not secured we could see a phase of temporary short covering rally in the markets. Volatility India (India VIX) down by -7% and global markets sentiment changed to positive which could further ease the downside pressure in Indian Markets temporarily.

Market Profile – Key Reference Levels

1)Spike Base at 10355

2)Prominent POC at 10481, 10568, 10700

3)Previous Week Low at 10449 and 2 Week Low at 10315

4)Mechanical stops Upper Side 10617 and 10638

5)Weekly Gap at 10724(upper side).

6)Double Distribution Balance 10466

7)Weekly Gap (Partially Filled) 10440

Value is overlapping on Thursday. Profile Trading sentiment changed to positive post the stop hunting activity and acceptance above prev day rally high.

What to Watch on Friday
Opening Confidence has to measured with value starts building higher. Higher side expectation is towards spike reference 10355 and the Weekly Gap (Partially Filled) 10440.

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

Leave a Reply

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