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 – Trading Band Likely to Expand

1 min read

Still, Nifty Futures is struggling to find its direction for this month. So far in this series, Nifty went down 10552 levels and no supportive active from the sellers and the price manage to move to the other side of the consolidation band 10800 levels. No supportive action from the buyers at 10800 levels price again rotated towards the center of the consolidation band 10560 – 10800.

Nifty Futures 5min charts

Nifty Futures took support around 10690 levels and it will remain as a key support zone in a very short term. Holding those levels there could be one more attempt towards 10820 and 10835 levels. Still, call writers are holding at 10800 strike. However, call writers loosen their aggressiveness at 10800 strike compared to last week(start of June series). Hence the trading band could widen between 10600-10900 in the coming week.

Volatility remains muted for this series though intraday swing remains at a fairly at tradeable levels. India VIX down 6.45% for this week and at 12.70. Volatility came down post-RBI policy announcement.

Nifty Futures Open Interest Data

Events to Watch Next Week

1)President Donald Trump is scheduled to meet with North Korean leader Kim Jong Un for a historic summit in Singapore on June 12.
2)Industrial & Manufacturing production numbers on 12th June
3)Inflation rate on 12th June
4)Wholesale price index change on 14th June
5)FX Reserves, Balance of Trade & Current Account Numbers on 15th June

Chinese – Shanghai Composite Index

Chinese stock index is nearing 2018 year low again as last friday Shanghai Composite Index ended down 1.4 per cent at 3,067.15. For the week, the index shed 0.3 per cent, settling lower for a third week in a row. The large-cap CSI 300 index erased 1.3 per cent to 3,779.62. Any absurd reactions from Chinese markets could bring short-term impact to global markets.

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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