Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Nifty Futures Multiple Higher Low Formations on Hourly Timeframe

1 min read

How do you read the charts when you see multiple formations of Higher low formation on any given trend? How do you read charts where the trend is evolving slow and steady and not willing to give up or at least more difficult to break its previous swing low formation?

What could you think at the same time price is at the upper extreme not willing to give up a certain level on a higher timeframe. In that case what one is experiencing is a completely tight range bound difficult markets where buyers and sellers are extending their fight without giving up on each other.

Nifty Futures Hourly Charts

Lots of crowded buying happens at every 100 point interval. What kind of participants comes and accumulate at every 100 point interval? And Why the sellers are not willing to give up as well? These are questions which is running through my mind and asking myself how to deal with market situation in a better way.

Now the real question is how long this ping-pong fight among buyers and sellers are likely to extend? Does this tighter compression waiting for a major event like Union Budget and fresh trend to evolve post the events out of this consolidation?

Thinking from the seller side there is more desperation from sellers to break the previous lows every time. However, a lot of frustration remains among the sellers thus far since Oct 2018 low.

This market is being an amazing puzzle all the time. Instead of trying to think whether the Nifty could move to 9000 levels or 12500 levels narrow down the puzzle to lower timeframe and take one step at the time.

Interestingly markets often punishes people who hold a very unrealistic thought about market movements and very rarely they get rewarded for such a poor thinking.

Nifty 5min Charts

Quick Flip strategy on the 5min charts are at the resistance zone around 10884. Any upmove above could possibly bring a potential test towards 10920 and 10960 levels.

Wedensdays sell off went extreme however late recovery on Thursdays activity shows bit of reluctance from buyers to give up on current trend.

Any for any sustained positional weakness price has to start accepting below 10840 levels. Until then there is no point in thinking about positional weakness.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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One Reply to “Nifty Futures Multiple Higher Low Formations on Hourly Timeframe”

  1. Dear Rajendra
    I appreciate your efforts to help traders in with your tech charts and signals

    Do you have any auto trader software for nifty options to make daily profits and come out?
    I will be happy if you design..
    By giving the login credentials it should be linked to a low brokerage service provider…

    Can you do something like this and give me feedback?
    Regards
    Harihara Subramanian

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