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 Range for Aug 2018 Series

48 sec read

Nifty Futures broke above previous all-time high 11185.6 on last Friday. So previous all-time high becomes immediate support now in a very short term. Trading sentiment holding positive for the last 5 trading session. Put writers are active at 11000PE and call writers are aggressive at 11400 hence in a very short-term trading range could be in the band of 11190-11420. Markets could play a ping-pong game here (sort of consolidation) before giving any major directional clues.

When comes to Monday’s trading session, 11280 is a key monitoring level for any immediate support. Trading sentiment holds bullish as long as 11280 reference holds on the upper side. Moderate Bullishness is expected to continue in a very near term

Key Macro Events planned for this week

RBI Policy Meeting: RBI’s Monetary Policy Committee (MPC) is set to meet during July 30 to August 1 for the third bi-monthly monetary policy statement for 2018-2019.

BOJ Meet: Bank of Japan will announce its interest rate decision on 31st Jul 2018

US FED Meet: US Federal Reserve will announce its interest rate decision on 1st Aug 2018

BOE Meet: Bank of England will announce its interest rate decision on 2nd Aug 2018

Auto Sector in Focus

auto sales data are going to release this Wednesday. Auto Sector on the daily chart is showing some consolidation around 10730 – 10930 band since the last 4 trading sessions. Trading sentiment holds positive with supports coming around 10770 levels.

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)

Bank Nifty Futures – Market Profile Charts and Overheated…

Bank Nifty Futures - Market Profile Charts and Overheated Emotions - September Series
Rajandran R
18 sec read

Nifty Futures – Increased Volatility and Downside Odds –…

Nifty Futures during the last couple of days are switching back to increased volatility. ATR is a greater measure of volatility. Because of the...
Rajandran R
36 sec read

Bank Nifty Futures Brings Upthrust Bar and Two Bar…

Last Friday Bank Nifty does a breakout failure followed by a sharp reversal forming an Upthrust bar and Two Bar reversals on Daily Timeframe....
Rajandran R
31 sec read

One Reply to “Nifty Futures – Trading Range for Aug 2018 Series”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More