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 Spot Weekly View as it nears weekly Support Zone

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Nifty is wiggling between the 5 Week EMA High and 5 Week EMA Low Channel for the past five weeks. Mostly hurting the trend followers as the market moves in a compressed band. Whenever the nifty spot reaches the upper band or the lower band it reverses it position. And yet the 5EMA (High-Low) channel breakout is not yet in place. So Currently Weekly Support zone 5EMA-Low is at 5595 and the Weekly Resistance Zone 5EMA-High is at 5729. Breaking this barrier on the either side could provide clear long term trend directions. i.e Downtrend if 5595 breaks on weekly basis or Uptrend if 5729 breaks on Weekly basis on the upperside.

Nifty Open Interest

As of Now 5800CE holds the higher open interest among the series which indicates 5800 could be the potential resistance for the current option series and on the 90 min charts nifty holds the positional sell trend since last friday.

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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