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 November Expiry Short Term Overview – Part 4

1 min read

Nifty Daily Charts

Last three days of markets would have drained the productivity of any positional trader in Nifty Futures as the markets rolls in a tight compressed fashion in a narrow 80 point range. Price finds resistance around 10390-10400 levels where most of the short term players are prone to keep their stop levels. Thursdays trading session shows a mid-day emotional sell-off followed by sharp recovery and closed flat for the trading session.

The price behavior for this week is in such a way that in the last four trading days it motivates a lot of shorterm sellers than the buyers and yet price inches up like a snail slowly steadily on the higher side. Todays volume in Nifty futures is thin which shows lack of participation. Most traders suspect it could be due to US Market Holidays (Thanksgiving day and Black Friday).

First Hour Volume in Nifty Futures

Trading Sentiment

Trading Sentiment maintains positive(both profile and indicator sentiment) for the last three consecutive trading session. 10300 puts writers are actively supporting and defending 10300 (on nifty spot) on EOD basis and on the other side 10500 and 10600 call writers are actively writing calls on the higher side which lead to a possible 200-300 point sideways zone till the end of this expiry. And the Market Internals are moderately positive though not aggressively positive.

Nifty Futures – Market Profile Analysis

Nifty formed a balanced structure on Thursdays trading session followed. Thursdays trading is completely dominated by short term emotional sellers with possible stops built around 10390-10400 levels. Any price acceptance above 10390 will bring more positive bias towards All time high levels.

Key Reference Levels to Watch

1)Weaker Reference levels at 10390 and 10400 levels
2)Weaker Reference Levels (Prominent POC touch) – 10310
3)Gap Reference Levels – 10275
4)Poor High – 10530 – All time High (Not Secured)

Markets are likely to show compressed uptrend behavior towards all time high. Probably one of the most boring way of testing all time high.

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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