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 the Weakness in Nifty Continue?

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Nifty Weekly Charts
Nifty Weekly Charts

This is the third consecutive week nifty is making negative returns on weekly basis and closed below 5EMA(high) on the weekly charts which implies further weakness in nifty on shorter term and the shorter term weekly support comes around 7348 which is nothing but 5EMA(low) on the weekly charts for more info on 5EMA high-low EMA Strategy visit .

Nifty Spot Hourly Charts

Nifty and Bank Nifty hourly charts is in positional sell mode on the hourly charts and currently the resistance zone comes around 7663 and 15442 respectively. Reverse your position to positional buy mode if the resistance zone breaks on hourly charts.

NIfty Spot

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Bank Nifty Hourly Charts
Bank Nifty Hourly

India VIX Hourly Charts

India VIX on the hourly charts maintains the buy mode and one can expect the volatility in the market to continue as long as it holds above the support zone 16.93

India VIX

Nifty Option – Open Interest

As of now looking into the open interest built up picture is meaningless but still the snapshot below.

Open Interest

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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