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 Hourly Charts and Open Interest Overview

32 sec read

Nifty Hourly Charts
Nifty Hourly
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Nifty and Bank nifty hourly charts turned to sell mode on the hourly timeframe. On the Open interest charts calls side, open interest shows higher open interest in 6000CE and 6200CE. Which indicates that 6200 is the strong resistance for the current option series. And also 6100 could be the strong resistance in the current option series as good amount of open interest built up is still happening there too. Since nifty expiry is still four more days to go it is preferred to sell 6100CE and 6150CE with a total premium of Rs68.95. Strategy will make max gain if nifty expires below 6100 on the expiry day.

Nifty and Bank nifty resistance on the hourly charts comes around 6107 and 11006. Position needs to be closed if the resistance breaks on the upper side.
For Live Open Interest visit OI Tracker
Bank Nifty Hourly Charts
BankNIFTY Hourly

Nifty Open Interest
nifty open interest

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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