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 Trading sentiment turned negative – Apr 2020 Series Short term Outlook

38 sec read

Nifty Futures – Daily Charts

Nifty trading sentiment turned negative at the close that breaking the streak of trending longs. And short term sentiment is pointed towards the weaker reference levels towards the weaker HVN levels 8700 which is double weaker around 8700.

Nifty Futures – Dynamic Volume Profile

Intraday volatility cooled off a bit with an intraday range around 150+ levels in the last couple of days. However 10-day ATR is still above 400+ levels indicating that Nifty is not free from uncertainty.

Value area formed lower on Tuesdays trading session with a potential island gap reversal. Sellers confidence maintained high through out the session which is an indication that more downtrend likely in the short term.

Short term liquidation is seen overall on Tuesdays trading session and Immediate Short term support zones are around 8700 levels which is also a weaker reference and the odds of breaking 8700 is possible with the given trading sentiment.

Nifty Market Profile Charts

And later on a clear monitor needs to be established to understand whether the levels 8700 is accepted or rejected around the support zone.

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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