Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty September Expiry Futures is at the Resistance Zone

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Nifty September 2017 Expiry

Nifty September futures currently trading around its previous high on 18th Sep 2017 trading. Post making all time high marginally Nifty September contract started trading sideways during Monday trading session. Short covering rally was witnessed in the first hour of trade. Trading Sentiment is holding bullish and the expiry range had shifted higher to 10053-10308.

Nifty Options OI Lookup

However Volatility was largely muted and India VIX at 11.4425 down by 2%. Put writers shifted their strikes to 9900PE and 10000PE since the last week. However PCR of 10200 strike is at 0.45 and 10300 strike is at 0.16 indicates a possibility of tighter range bound markets in the coming session with short term resistance building around 10180-10200 range.

Trading Sentiment

From the trading sentiment perspective global markets rallied post the geopolitical tensions eases out. Despite the positive global sentiments and markets largely ignoring negative sentiments short term inventory had went from long to too long which posses a risk in holding longs n the very short term.

Short term supports comes around 10170. Price holding below 10170 on EOD basis brings short term weakness

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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