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 Series Mid Month Analysis

51 sec read

November series is thus far a dull series with reduced volatility and interestingly price started trading in a range between 11800-12050 levels since 30th Oct 2019.

Nifty futures – Daily charts

If you notice closely most of the sudden intraday surprises are either sold off at the highs or bought at the lows and thus maintaining a sideways market even from an intraday perspective.

10 Day ADX is reducing but still maintaining above 30+ levels indicates volatility could pick up anytime and the average intraday volatility stands at 117 points which brings possible intraday swing more than 100+ points on most of the trading session.

Round number reference level 12000 is acting as a psychological reference and multiple whipsaws happened around those levels and expect to test and reject at those levels in the upcoming days.

Nifty Futures – Market Profile Charts

Value on Friday built higher and in the last couple of days, values are flip-flopping which is a very common phase during sideways markets.

Nifty – Monthly Options Open Interest Data

Nifty option’s highest monthly open interest built up is seen around 12000CE and 11500PE & 11600PE. That brings a possible November series range between 11500-12000 levels.

In a very short-term 11880 levels are likely to act as a short term support zone and tighter trading activity is expected for a day or two with a limited upside view. However, price breaking 11880 levels could bring a possible downside odds towards 10760 and 11640 levels respectively.

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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