Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Will the Momentum Buyers in Nifty Futures Fade Away?

31 sec read

It is a momentum buyers market when comes to Nifty Futures trading. Shorter term momentum traders are driving this market in April Expiry series. Every micro dips are bought for this series a typical behavior of momentum players. And the last couple of days shorter term inventory is getting long to to long. No so good indication for the current uptrend.

Current trend formation is based on rolling momentum where the participants are pushing the prices after the sideways market movements and the momentum players repeat it again and again after every sideways action. Current Supports are at 10490 levels. Breaking it could bring lower levels possibly towards 10370 and 10330 levels in a very short term. On the upperside 10600-10700 could be a EOD resistance zone which is tough to break in the near term as call writers are continuously defending this zone for quite some time.

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

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