Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty Futures October Expiry Futures – Short Term Overview – Part 4

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Nifty Futures is trading in the new territory and also hits all time high on friday trading session. This time weekly sentiment turned positive and interestingly market internals are holding positive and put writers are aggressively killing the option premium at 9800PE, 9900PE, 10000PE, 10100PE. None of the call writers are aggressive for this series despite the global events like North Korea Threat, China downgrade and local events like surgical strike, Fitch downgrading India’s growth forecast to 6.9 per cent.

Nifty Futures Weekly Charts

Short term view about the market is still bullish right from the start of the expiry. Short term supports comes around 10152. And the near term sentiment to hold positive, price have to sustain above 10184 in the very near term for the current bullishness to continues. Failing to hold above 10184 could bring a possible sideways action between 10048 – 100184 zone

Despite the lower VIX (India VIX <12 ) markets are showing greater intraday range which could probably motivate the short term momentum players to participate in the current trendy move. When the market is in the newer territory it attracts new players to join the trend. Trading against the trend (Positional) is not advisable at this juncture as most of the smart money flow is aligned in the upper direction.
Trading Sentiment

Indicator Sentiment and Profile Sentiment both continues to be in the positive zone since 3rd Oct 2017. Inventory adjustment is observed on wednesdays trading session followed by long inventory built-up.

Nifty Daily Profile

Fridays profile shows formation of pullback low around 10182 and Thursdays spike reference comes around 10047 which could act as a short term support zone in the upcoming days. Profile Structure is weak around 10048 – 10160 levels where a sideways action could be expected if Nifty fails to hold above the 10182 reference.

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

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