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.

Will this Pre Budget Rally continues?

47 sec read

So the Pre budget rally is here and last week nifty bounced off from the low and made a fresh all time high and currently closed at 7753. Also it closed above the Weekly 5EMA(High) which indicates a firm long term trend intact. However it should be noted that Banknifty havent crossed yet the previous all time high and trading very close to the previous high.

Nifty Hourly Charts

NIfty Hourly Spot

 
On the hourly charts nifty and bank nifty both turned to positional buy mode with support zone comes around 7607 and 15118. Reverse your position to positional sell mode if the support breaks on the hourly charts.

Bank Nifty Hourly Charts
Bank Nifty Hourly

India VIX Hourly Charts
India VIX

India VIX still maintain the positional buy mode with the support zone comes around 16.93 and reverse your position to positional sell mode if the support breaks on the hourly charts.

Nifty Open Interest Lookup
Nifty OI Pre Budget

The open interest picture shows 8000CE has higher open interest built up however it could not be witnessed as call writers as major news is around the corner and call/put writers might not be strongly confident enough to write puts/calls at this point of time. We could get more clarity once the finance minister start delivering his budget presentation.Let see what actually the Finance Minister delivers on July 10th.

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.

[Option Strategy] Hedged Futures with OTM Options to Save…

These days for Retail Traders trading in futures trading requires a huge margin. Approximately 1.65 Lakh per lot is required to carrying forward future...
Rajandran R
1 min read

How to Send Automated Option Orders from Excel Sheet

In this online webinar we will be discussing how to send automated orders using Microsoft Excelsheet and How to Get realtime data into Excel.
Rajandran R
16 sec read

Bearish Option Strategy: Nifty Hedged Puts – Nov 2020…

Structurally Nov 2020 series is closing the long pending island gap reversal which is an investing reference. However, emotions are running high during the...
Rajandran R
42 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More