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

Nifty and Bank Nifty May Futures – Short Term Top Formation?

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Nifty and Bank Nifty showed late selling pressure on Tuesday trading session. Nifty market profile structure ended with Poor High and Genuine Reverse Spike. So Market Profile – Spike Rules are applicable for Wednesdays trading session and Bank Nifty ended with sharp Excess on Daily timeframe and from market profile perspective as well with strong tail indicating a strong short term resistance around 49700-49950 band

Nifty Market Profile – May Futures

Nifty Futures Price holding down below the spike base bring a short term negative sentiment towards 22650 and 22520 levels.

And Bank Nifty Futures price holding down below the spike base brings a short term negative sentiment towards 49000 and 48800 levels.

Bank Nifty Market Profile – May Futures

India VIX for the last 4 days is consecutively rising and back to the levels as of 23rd Apr 2024 levels where India VIX witnessed a severe intraday drop . Short term sentiment in Nifty indicates a possible inventory getting long to too long. Which indicates the risk of long increasing in the markets positionally. This raises once again the speculation of Volatility ahead of elections.

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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