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 hourly trend for 14 July 2010 Trading

26 sec read

Hourly trend of Nifty remains positive with the Ichimoku hourly Cloud supports coming near the 5347 zone.

For the past three days there is a heavy OI builtup seen in 5500CE. Does it mean that bearish call writers are confident of holding below 5500? This is the question in every one mind. Does the uptrend going to end? Also there is a 5-wave elliot wave pattern in the daily charts.

 
So what to do next?
As of now the hourly Ichimoku signals are still in the buy mode and there is no sign of weakness even in the 15 min charts. Just wait for the hourly supports to break to take a short trade until then shorts are not recommended in nifty futures.

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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4 Replies to “Nifty hourly trend for 14 July 2010 Trading”

  1. Hi Rajendran,

    I am using GCI chart, how to set ichimoku on gci same like your chart mentioned in amibroker,…
    Thanks.

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