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 5

54 sec read

Yet another 3 day balancing and slowly moving unproductive days for a positional trader in Nifty futures as it trades in 10360-10420 range for the last 3 trading sessions. Interestingly stops again got built around 10420 post todays panic intraday drop towards 10360 levels.

Nifty Daily Charts

Trading Sentiment

Nifty indicator sentiment holds positive for last 9 trading sessions. However today knee jerk intraday reactions post the news announcement (Japan detects radio signals pointing to possible North Korea missile test) made the profile sentiment to turn negative despite the value on the profile charts forming higher. Put writing continues at 10200PE, 10300PE and 10400PE which indicates the aggressiveness of the put writers. Overall Crowd Trading intelligence is position in a bullish mode for this series though the crowd intelligence reading is not aggressive enough to trigger a strong uptrend a sideways action or a mild uptrend is expected to continue in the very near term.

Nifty Market Profile References

1)Tuesday trading session is a double distribution day which also clears the poor structure of mondays price action.

2)It formed a 3 day balance. So balance rules apply. For the profile sentiment to turn positive 10385-10387 levels need to be accepted

3)Stops are formed around 10420 zone.

4)Overlapping Structures shows a tired market. Possibly we are very close to the short term inventory getting long to too long.

5)Mini Scene of Crime at Tuesdays High.

Intermediate resistance around 10385. Any price acceptance above 10385 could possibly trigger all time high either during the last day of expiry or by the first day of New expiry.

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)

Things you need to know before trading OTM Options

There is a saying that OTM options are for gamblers especially those who are blindly betting on cheaper options. And this post explores how...
Rajandran R
2 min read

Nifty Overheated and Will Nifty Pullback?

Nifty is racing towards an all-time high and in the current swing most of the price action happens in the form of gap up...
Rajandran R
30 sec read

Bank Nifty Futures – Market Profile Charts and Overheated…

Bank Nifty Futures - Market Profile Charts and Overheated Emotions - September Series
Rajandran R
18 sec read

3 Replies to “Nifty Futures November Expiry Short Term Overview – Part…”

  1. But sir when two day closing is positive or negative then it becomes 100 or o but then it is other than this at icharts.in , problem is here

Leave a Reply

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