Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

10 day SMA of Trin nears 1

29 sec read

When the 10-day SMA of TRIN is close to 1, it’s prudent to hold off on short positions until the Nifty falls below the 4509 mark. Should it dip below this level, expect the trend to oscillate within the 4509-4253 range. Additionally, keep a vigilant watch on the TRIN; a drop below 1 now signals a favorable buying opportunity in the market.

Negative Indicators to Consider:

  1. A Put Call Ratio (PCR) of 0.82 points to an overconfident market, which doesn’t necessarily indicate bullish sentiment.
  2. The Weekly RSI-2 of the USD Index is trading at extremely oversold levels, which could lead to Foreign Institutional Investors (FII) selling in the short term.
  3. TRIN remains above 1.
  4. There’s a negative divergence observed in the hourly charts.
  5. Weekly support levels are positioned around 4250, significantly below the current spot price.

Despite these factors, the overall outlook appears bullish!

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

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