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 Overview – Market Profile

40 sec read

Nifty Futures trading in 10600 – 10900 range and this range is getting even tighter possibly 10700 – 10900 in the near term as the call/put writers are writing at tightly packed zones.

When Comes to Nifty Futures Index short stops are hunted in a phase manner. And more short term stop clusters are in the zone from 10790 – 10850 levels. Short term sentiment maintains positive for last 5 trading sessions. Price is also one timeframing on the upperside which shows the confidence of short term buyers. It is short term buyers because most of the structures are driven by emotions, anomalies & mechanical references.

Upside Key Reference Levels
1)Double Mechanical Reference at 10790
2)Weak ORR stop at 10805
3)Uncleared G2 High at 10820
4)Prominent POC at 10850

Downside Key Reference Levels
1)Double Mechanical Reference at 10600 levels.

Asian markets falling (especially the Chinese and Hong Kong markets) and EM Currency crisis continues to be the talk of media news channels. Volatility in the Indian Market is completely muted. India VIX is currently around 12.57 levels. Immediate support levels comes around 10723 levels. Compression is expected to continue on Friday session as well. Price closing below 10723 on closing basis is a negative sign.

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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