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 Sentiment turns Negative

46 sec read

Nifty Futures finds its resistance around 11505 levels and on Friday trading session both indicator and profile trading sentiment turned negative. Momentum sellers controlled the day which makes the trend positionally down towards the next stop zone 11386 and the previously unfilled gap reference 11180 and the G2 Low reference 11117 levels.

Call writers are steady at 11500 which brings one more level of resistance in the medium term. Next Week is likely to be a truncated week with 4 trading sessions. Banking stocks like HDFCBANK, Kotak Bank, Indusind Bank thus far underperformed Bank Nifty drastically.

Nifty Daily Charts

IIP numbers released on Friday post market hours. Industrial production for the month of June expanded at a robust 7 per cent led by strong growth in manufacturing and capital goods sector. The IIP had risen by 3.2 per cent in the month of May dragged down by sluggish growth in manufacturing and power sector. Manufacturing sector constitutes 77.03 per cent in the overall index.

Global tensions are on as Turkish Lira tumbled 15.63% on last Friday which sends ripple waves across global markets.

[Source : Tradingeconomics ]

Trading range for next week could be in 10450 – 10200 range. India Vix is currently at 12.85 levels. Volatility is expected to expand next week. USDINR is currently at 68.87 levels. Next week, any shoot above 69 in USDINR could bring more psychological pressure on stock indices.

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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