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 Futures Short-Term Bottom Formation

38 sec read

On the higher timeframe, there was a strong negative sentiment observed in the Nifty. This resulted in a significant decline of almost 650+ points in the current week. The support level for Nifty Futures is expected to be around 16850 levels.

Market Profile Nuances in Nifty Futures

There are many short-term traders(sellers) in the market who are making decisions based on emotions and short-term gains. As a result, they are taking too many short positions, and some of them are getting trapped in their own strategy. This could lead to a potential adjustment in trading inventory ‘aka’ short covering possibilities.

Price acceptance above the recent spike base and sustaining and building value area above 17070 is the key to change in a short-term trend. Very short-term odds are positioned towards the weaker high around 17180 levels and higher.

Nifty Futures – Market Profile

Nifty Futures VSA Signals

Nifty Futures brings a composite double VSA signal with two bar reversal pattern to the upside on higher volume usually a possible end of downtrend and likely odds of starting a new short-term upside very soon.

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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