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 – 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 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.

[Option Strategy] Hedged Futures with OTM Options to Save…

These days for Retail Traders trading in futures trading requires a huge margin. Approximately 1.65 Lakh per lot is required to carrying forward future...
Rajandran R
1 min read

[Limited Period] Free Mini Certification Course on Market Profile

Market Profile is one trading tool that professional traders would never like to miss in their trading arsenal. This Mini Course on Market Profile...
Rajandran R
1 min read

Beginner’s Guide to Market Profile

Kickstarting your market profile learning? then you cannot miss this webinar where you get to know the basic building blocks of Market Profile and...
Rajandran R
23 sec read

Leave a Reply

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