Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty Futures – Market Profile – Trade Preparation for 2nd Dec 2019

43 sec read

Nifty Futures on long liquidation phase on the first half of the Friday trading session and the second half is more focused on balancing around 3 days low. The day ended with a failed 3-day break and the price managed to close above the single print zone 12080 levels near to EOD.

Long Liquidation is seen as short of inventory correction which neutralizes the short term traders’ accumulation since last Tuesday trading session.

Overall seller’s effort on Friday trading session is still less commendable as they failed to close below the 3-day low break. And on the other hand, the price still holding above the single print zone, 12080 is still considered as not so good effort from the seller’s side.

Top Down AnalysisNifty Future Trend

Monthly Trend – Price is trading around the larger balance for almost 24th month
Weekly Trend – 4 week balance
Daily Trend – Balancing around 12040 – 12200 band range

Overall

For any negative change in the short term trend, the price has to start accepting down below the single print zones 12080 and 12040 levels. Else market might be getting into a short term balancing mode between 12040 – 12200 levels in the upcoming near term December series till the RBI policy announcement (5th Dec 2019).

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

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