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 – Weekend Review June 2019

58 sec read

Nifty Futures for the entire month has been rotating in a broader range i.e the range established on election results day (11640.2-12070). It is almost a month where the price is circling around this zone and the entire activity is mostly dominated by short term players.

Nifty Futures – 1min Chart ( Continuous Contract )

Nifty Futures Volume Activity

From the Nifty Futures dynamic profile charts volume activity is centered around 11980 (HVN1), 11911 (HVN2) , 11885 (HVN3) levels. Price rejected all those levels followed by the test of the lower balance 11640 levels.

Nifty Intraday Volatility

Though the price actions is moving like a broader consolidation range, intraday volatility is very consistent since the exit poll results announcement of Election 2019.

Nifty 10 Day ATR

Island reversal gap in Nifty spot is still open between 11479-11484 band. Fridays note ended with weakness might spillover into the monday session as well. Current resistance comes around 11775.

Nifty Options – Open Interest

Nifty Futures - Open Interest

Still, 4 more trading sessions left for this expiry. Call writers are active around 12000 levels and put writers are currently active around 11500, 11600 & 11700 levels. That brings an equilibrium point for the put writers around 11602 levels as breakeven points for the put writers and straddlers. Price breaking 11600 on the downside could trigger an unwinding of longs in Nifty as well as from put writers.

From a larger trend perspective, short term trend and long term trend is going in a sideways mode. The medium-term trend turned downwards.

For very short-term sentiment to turn positive acceptance above 11775 is much required to go towards 11850 and 12000 levels. Failure to accept above 11775 one can aim towards the closure of the Island reversal gap towards 11447 on the downside.

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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