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.

Reasons Why Nifty Will test 8217 before this expiry

33 sec read

Update : EOD Sentiment turned negative on 5th Nov @ Market Open and this view got invalidated. Will review again this view if the Daily Sentiment turned positive again.

NIFTY Spot

 
After 6 consecutive losses nifty spot made an attempt to close positive marginally. Nifty Daily sentiment turned positive at open and maintained the positivism throughout the session. Previous Sentimental Gap Down levels are at 8217 and 8252 and the professional gap 8359 zone remains unfilled so far. Overall traders sentiment is bearish on nifty as people has mixed opinion about Bihar polls.

Open Interest picture shows poor confidence levels amount call and put writers. India VIX sentiment is at extreme and volatility in the market is expected till the Bihar poll results.

Open Interest

Since the EOD Sentiment turned positive today it is better to attempt the longs towards the first gap as long as the EOD sentiment remains positive.

httpv://www.youtube.com/watch?v=cLkTBA9Ac4w

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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