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You are here: Home / Futures and Options / Nifty Futures Short Term Overview – January Expiry – Part 2

Nifty Futures Short Term Overview – January Expiry – Part 2

January 7, 2018 by Rajandran Leave a Comment

The context had nothing much changed from the last write up , except the market moved from a 100 point range to 200 point range.Volatility is much improved for this week. Nifty Futures attempted a fresh all time high and closed higher with euphoric global market optimism. Higher timeframe shows more of a weaker momentum buying and weaker hand buyers are getting baited at 10500 psychological levels and Previous Swing High reference 10530 which most of the short term players tend to watch that reference.

Nifty Futures EOD Charts

Nifty Futures Trading Sentiment

Indicator Sentiment turned positive. Put writers are still over aggressive at 10000PE, 10100PE, 10200PE, 10300PE, 10400PE & 10500PE which is a worrying concern for a sustained uptrend. Too much of put writing indicates highly overconfidence trading environment possibly dominated by laggard buyers.

Nifty Futures – Market Profile Sentiment

From the Market Profile Charts weaker momentum buyers are witnessed in the last couple of trading sessions with slow and compressed one-timeframing in the second half of session on Thursday and Wednesday indicating a possible weaker momentum players are dominating this market in the last two trading sessions.

Key Reference Level

1)Jan 2018 All time High and Poor High – 10600
3)Prev Week Low – 10436
5)Weaker Reference – 10112
6)P Shape Reference – 10423 (Gujarat Election Results Reference)
7)Strong ORR reference – 10373

When the Global Market Optimism is running there, those are times tough to be on the contrarian side of thinking. If there is any meaningful continuation on downside then possibly 10373 – 10423 is the next reference in Jan series to look for any possible support. Price acceptance below 10373 – 10423 band and holding below can drag nifty futures towards 10000 or even lower levels.

Related Readings and Observations

  • Nifty Futures – Market Profile Analysis – 1st Mar 2018Nifty Futures – Market Profile Analysis – 1st Mar 2018 Nifty Futures opened gap down on Wednesdays trading session post gap down more of day timeframe sellers started actively dominated the market and resulting in a open auction outside the […]
  • Nifty Futures – Market Profile Analysis – 28th Feb 2018Nifty Futures – Market Profile Analysis – 28th Feb 2018 Nifty Futures opened gap up however reverses all its gains in the first hour of trading and ended up with a classical ORR setup with b shape structure (long liquidation). Initial […]
  • Nifty Futures – Market Profile Analysis – 27th Feb 2018Nifty Futures – Market Profile Analysis – 27th Feb 2018 Nifty Futures continued its Fridays sentiment, opened gap up above the previous week high levels with a greater confidence on Mondays Trading Session. Confidence of the buyers maintained […]
  • Nifty Futures – Market Profile Analysis – 26th Feb 2018Nifty Futures – Market Profile Analysis – 26th Feb 2018 Fridays Price action ended with a massive short covering followed by fresh money buying with trading sentiment switches to positive. Open Interest in Nifty Futures is up by 5.19% showing […]
  • Nifty Futures Short Term Overview – January Expiry – Part 1Nifty Futures Short Term Overview – January Expiry – Part 1 Last 5 trading days Nifty Futures is moving in a 100 point range. Volatility was greatly muted. On Wednesdays trading Nifty Futures attempted a fresh all time high before ending up with […]
  • Nifty Futures Short Term Overview – December Expiry – Part 1Nifty Futures Short Term Overview – December Expiry – Part 1 Nifty Futures on the daily timframe manage to hold with positive sentiment for the last 4 trading sessions with EOD support coming around 10258 levels. Interestingly Nifty Futures is […]

Filed Under: Futures and Options Tagged With: Market Profile, Nifty Futures, Nifty Profile, Short Term Overview

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

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