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 – Negative Sentiment Further Extends – September Expiry

42 sec read

Nifty Futures further extended the negative sentiment on Wednesday trading session tested an intraday low of 11437 followed by a sharp recovery. Yet another day momentum sellers controlled the day. Immediate quick flip support zones come around 11455 levels. Totally an emotional trading day witnessed among buyers and sellers.

Nifty Futures 5min quick flip charts

For any further momentum weakness, Nifty Futures needs to survive below 11455 levels to see the next lower reference levels 11354(3 week low). Thus far call writers are dominating this series at 11600, 11700 and 11800 strikes.

Nifty Daily Charts

As most of the Asian markets are closed negative on Wednesday’s trading session, Trading is not going to be easy on Thursday trading session as volatility could further broaden up resulting in increased intraday wild swings and currently, 10-day ATR improved to the level of 95.

Indicator Sentiment continues to be Negative for the 6th consecutive trading session. India VIX maintains sub 14 handle and currently at 13.65

Nifty Futures – 10 Day ATR Charts

Overall a range bound day is expected with wild swings if 11455 is protected on the downside. Nifty could enter into extreme negative momentum if possibly sustains below 11455 which could eventually lead to the next reference level 11354 (3 week low).

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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