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

Failed Auction in Bank Nifty – Market Profile Outlook

25 sec read

Bank Nifty last Friday formed a Failed Auction and the day ended with a late spike with momentum traders dominated in the later part of the Friday session. Dominant Buyers came for rescue around the Thursday P-shape balance.

Usually Failed Auction is likely to be retested with the next t+5 trading session with greater winning odds. Also, the POC Non-migration raises the concern of short-term trading inventory getting long to too long kind of an overheated situation. Price failure to accept above the spike high is the likely confirmation for short-term trading inventory to go long to too long and signs that laggard momentum traders are in play.

Failed Auction levels come around 46960 levels which is also precisely the P-shape low

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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