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 Short Term Trend Analysis – December Series

42 sec read

Both Major macro announcements GDP & RBI Monetary Policy Announcement is over. At this point markets reacted moderately negative to both of the macro events. And to everyone surprise, RBI kept the Interest Rate unchanged.

Immediate overhead resistance comes around 12120-12140 levels at this point continued to be immediate overhead resistance and short term trend continued to be in the negative mode. However medium term and long term trend is currently holding in a balancing mode.

Market Profile charts continue with G2 Low post RBI Announcement which brings liquidation odds as trading sentiment hold negative. AB Poor low is the likely target on the downside as the short term in the current scenario

Volatility in the market is still muted despite the event announcements. 10-day ATR level is around 103 levels and ADX is in falling mode. However, the last two weeks’ intraday volatility is improved with most of the intraday range testing above 100+ levels.

The odds of testing 11880 levels increased as discussed in the last article. That is the expectation in the very short term. Psychological reference 12000 level is still holding up breaking those levels is the key to testing 11880 levels where most of the positional stops are placed.

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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