Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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

Summary of Nifty Technical Analysis

33 sec read

1)5 EMA Weeky – Provides a Fresh Buy Signal with supports at  4912
2)5 EMA(High-Low) Daily – Buy signal retains with first support zone at 4975 and
second support zone at 4875
3)5 EMA(High-Low) Weekly – Indicates instant resistance zone at 5005. Weakness will prevail
if nifty is not able to cross above these levels for this week
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4)Long Term GANN Support Broken with a fresh buy signal with supports near 4854 zone
5)High O.I in 4600PE,4700PE,4800PE,4900PE Suggests Puts are written 
6)Elliot Wave – Still Pointing to Bearish Views
7)Still NMA Weekly is bearish since 30th OCT 2009 retains sell signal
8)Still NMA Daily is Bullish and maintains buy signal 9th NOV 2009
Overall 4860 levels could act as a support zone failure will induce more bearishness
as stil most of the strategies are point to bearish indications one should keep 4860
as Stop loss for their longs
Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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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