Rajandran R FollowCreator 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 Resistance around 12080 – 12100 levels
23 sec read
Nifty Futures last Monday reacted to the US-Iran Tension with a strong liquidation right from the beginning of the trading session. Price too broken outside the short term balance and accelerated downward and the negative sentiment continued.
Nifty formed a double distribution with an immediate resistance band around 12080-12100 levels. Price shooting above and rejecting at the single print levels is a key indicator for a potential test towards the next weaker reference at 12000 levels.
Short Term trading sentiment continues to be on the negative side at this time it is good to prepare for sell on rise. Positive setups can happen only if acceptance is coming above 12080-12100 band.
Related
Rajandran R FollowCreator 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
Successful trading is not just about having the right strategy; it's also about preparation, especially when it comes to the volatile opening hours of...
Overnight trading inventory is a critical measure for traders, capturing the net position of trades executed during the Extended Trading Session, which occurs outside...
Excellent