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 the Weakness in Nifty Continue?

36 sec read

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

 
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 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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