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)

Will Nifty Sustain above 8000 till September Expiry?

49 sec read

Surprisingly Mutual funds are the Net buyers consecutively for the last four months and had pumped a net inflow of closely 15464.5 crores right from May 2014 month onwards. It seems mutual funds are Interested in the markets after general elections. Last week ECB has cut the rate at which banks can borrow from the central bank from 0.15 to 0.05% which likely to attract more inflows into our market.

Nifty Futures Hourly charts
NIFTY

Nifty and Bank Nifty futures manages the positional buy mode and currently the support zone comes around 8061 and 15864 respectively. Strategy has to be reversed to positional sell mode if the support breaks on the hourly charts.

Bank Nifty Futures Hourly charts
BANKNIFTY

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India VIX Hourly Charts

India VIX closed below sub 13 levels and maintains the positional sell mode for a prolong period which indicates there is a lack of panic in the market.
Currently the resistance zone comes close to 14.90. One can expect sharp volatility in nifty is India VIX closes above 14.90 on the hourly charts.

India VIX

Nifty Open Interest Lookup

So far 8000CE writers are the active call writers for the current series and Option writers strongly believe that 8000 will be protected in the lower side.

Open Interest

Upcoming Economic Events
Industrial production figures for July would be released on Friday. Data for inflation based on combined consumer price index (CPI) would also be announced on the same day.
Eonomic Calender

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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2 Replies to “Will Nifty Sustain above 8000 till September Expiry?”

  1. hi

    how does PA can be done by tape reading?
    waht is tape reading basically?do we need any l2 data for that?

    thx
    sayantan

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