Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Future – Market Profile Analysis for 12th June 2017 Trading

1 min read

Video log on how to prepare for 12th June 2017 Nifty future trading. Here is the quick summary of what is discussed in the video. From the Top down analysis monthly timeframe is up and trending higher not much weakness seen, weekly timeframe is up (sentiment is up as well) and also week range is very thin 85point range. However daly timeframe is in balancing mode for last 6 trading sessions as the volatility in the markets remains low.

From the Market Profile Charts Nifty Futures on last Fridays session seen a late spike with value formed lower. so spike rules apply on Monday. Price migrated higher but POC failed to migrate higher along with price which indicates the long inventory went long to too long. But then weaker mechanical selling around 9700-9705 is seen throughout the last week session.

Market Profile Reference Levels

Key Reference Levels

1)Weaker Mechanical Reference Levels ( 9705, 9700, 9685)
2)Prev Week Low – 9619.85
3)Spike Base – 9651
4)Pullback Low – 9628

Trading Scenarios

1)Price opens above the spike base and acceptance above the spike base will bring a potential firecracker effect towards 9700 levels.

2)If the Fridays Tech Sector sell off in US Markets negative reactions are carry forwarded to Indian Markets. Probably a gap down scenario or a price open below the prev pullback low and
acceptance below prev pullback low 9628 is likely to be a negative scenario as the value area on friday is lower.

3)Third scenario is the last and the least possible scenario where a possible price rotation if markets are able to accept below the spike base with price testing friday session low and price moving back and forth around friday low could bring a overlapping value area relative to fridays value area.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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