Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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 Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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