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

Caution – Nifty Futures Trading Inventory goes long to too long

25 sec read

Nifty Futures – Market Profile Charts

Too many short-term buyers competed in the recent trend from 1st Feb 2023 onwards. However, on Thursday’s activity dominant sellers showed little aggression and that brings caution on the buying side as the day ended with AB poor high which brings the short-term inventory getting long to too long.

Market Profile structure shows that shorter-term resistance is expected around 18150 levels and too much competition from the short-term buyers reveals that any possible downside price action could bring a possible firecracker effect which could even have the odds of disturbing the current Budget Day Low i.e 17472 levels in a shorter term.

Caution is advised on the long side with temporary resistance formation around 18150 levels.

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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