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)

Nifty Futures – Upside Odds Remains Capped

1 min read

Nifty Futures opened gap down on Thursday trading session. The trading activity went on more emotional. During the second half of the session more weaker hand sellers participating in the trade.

Nifty Futures closed negative for the 7th consecutive day. Medium term trend still pointing towards the downside odds towards 11000 levels. However from a very shorter term perspective shorting risk increases and hence it is always sell on rise markets.

Nifty Futures Market Profile Charts

From the Nifty Profile Charts it is evident from the poor structure that emotional sellers controlled the day post the gap down. Thursdays Gap and Failed Auction are the key reference levels to monitor on the upper side.

Nifty Futures 5min Quick flip system

Nifty Futures quick flip is in sell mode for the 4th consecutive session and currently supports are coming around 11310-11327 levels. Price holding this levels once can anticipate a test towards 10404-10420 levels.

However on the downside the immediate supports are currently around 11000 levels as per the monthly open interest setup. 11000PE in May series holds the highest open interest which could be considered as the medium term supports for the current month on EOD basis.

Nifty Option Open Interest (Monthly)

Client Index Options – Calls Open Interest on Raise

What is more alarming is the client index call options (Buying) on raise for this may series which is way more than the usual put writing (Selling) which is the primary business for the clients. which is usually a sentimental factor that his markets are not likely to do a v-shape reversal anytime soon and the upside odds are highly reduced.

Nifty Vs Client Index Options

Overall limited upside from here and more room for downside still left for this series towards 11000 levels. Sell on rise mode continues.

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)

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