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)

Market Profile Analysis: Nifty Futures likely to hit 16000 levels in Short Term?

40 sec read

Nifty on Thursday trading ended with a negative selling pressure despite a recovery from the intraday gap down losses. However, value in Nifty Futures formed on the downside with back-to-back excess. Both Market Profile content and Indicator context still remaining negative and more positional odds for the September series to likely to test 16000 levels going forward with a 60% probability.

Immediate resistance formation around 16500 levels and one have to start focusing on volatility as global market sentiments too seems to be synchronized and likely to reflect in Indian markets as well.

When the Bearish View Invalidate

Price breaking 16500 could immediately invalidate the bearish view.

Shoot in Volatility

Current Implied volatility stands at 13.67 with 11% jump indicating that short-term volatility could be returning back to the markets. India VIX too shoots to 14+ levels indicating a potential sharp spike in volatility. At least volatility has to be monitored till mid of Sep 2021.

September series Open Interest

September series open interest levels are still very young but currently, 16500CE levels hold higher open interest levels and open interest levels around 16500 needs to be monitored on EOD basis. And 16500 could be a potential resistance zone going forward.

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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