Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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 Futures Formed Resistance around 19850 levels – Market Profile
24 sec read
Nifty Futures on the market profile charts formed a poor high around 19850 levels which is currently acting as a short-term resistance. And the short-term auction is focused on the recent failed auction from last Friday’s price action.
Short-term trading sentiment is maintained negative for the last 4 trading sessions indicating a bearish pressure in the short term. The downside focus in the short term remains towards 19660 and 19550. Only price-breaking 19500 on a closing basis put more downside pressure in Nifty Futures.
Open Interest
Rising open interest around 20000CE and 198000CE is a wall of worry for the bull traders. Bull trends are sustainable only if Nifty Futures is able to cross 19850 levels.
Related
Rajandran R FollowCreator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. 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
The derivatives market is a dynamic space where various participants employ unique strategies tailored to their goals and risk appetites. Among these, Foreign Institutional...
