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 – Short Term Trend Overview – Part 2

51 sec read

Nifty Futures Daily Chart with Expiry Band

Nifty showed a muted and compressed range bound behavior despite major global events like North Korea nuclear test, South Asian floods, Mexico quake, Hurricanes Harvey and Irma. Long term investors behavior is missing due to prevailing global tensions.

Nifty Expiry range continues to be in a tighter range for this series between 9766 – 10126. Put writers continue to be active at 9700, 9800, 9900 series and the overall crowd options intelligence for this series holding positive since the start of the series. 9900 option strike PCR at 1.95 and 10000 strike PCR at 0.45 which is kept the market in a compressed 100 points range for the last week.

From the Nifty futures daily charts, indicator trading sentiment continues to be on the negative side for last four consecutive trading sessions. However confidence is greatly missing on both the buying side and selling side as well and the overall market is controlled by the short term players.

Trading Sentiment

However Market Profile sentiment is holding positive for last two trading sessions. Whenever the profile sentiment and indicator sentiment is having a opposite opinions, market continues to be in a sideways mode which rarely gives positional trading opportunities and more of intraday trading opportunities. carry forwarding positions and not recommended during this phase.

Market Profile Nifty Futures

Stops are built above 9977-9981 range. Sustained price acceptance above this range could bring a possible trendy moves towards the higher reference zones 10041 and 10120.

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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