Rajandran R Follow Creator 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 in consolidation Mood – Waiting for breakout

November 11, 2008 30 sec read

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Chart Shows the Last 7 days of Movement in Nifty giving alternate buy and sell signals as per 5 EMA trading system. Look like a consolidation pattern between 2888-3150 only breakout can give direction. So we have to wait for news till the breakout occures
Simply. As the news is gonna decide the breakout.

UPSIDE BREAKOUT WILL LEAD NIFTY TOWARDS 200 WMA OF 3666 IN NEXT 2 WEEKS. HOWEVER FAILING TO CLOSE ABOVE 3100 ON ANY DAY AND SLIPPING DOWN TO CLOSE BELOW 2888 ON ANY DAY CAN SURELY SLIDE NIFTY TO MUCH LOWER CLOSING LEVELS TOWARDS 2800 & THEN TO 2684 DAY CLOSING DURING THE WEEK.A CLOSE BELOW THE CRITICAL CLOSING LEVEL OF 2684 ON ANY DAY CAN THREATEN THE LOWEST CLOSING OF THE YEAR OF 27TH OCT AT 2525 LEVELS.