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 is getting mixed views

25 sec read

Still now both bulls and bears are defending and both are not ready to give up. I do have produced mixed view in my blog.

So Far 
USD Index looks Bearish – FII's will possibly turn net buyers.
TRIN Oversold levels – Falling trin is considered as bullish
Nifty – Weekly charts looking bearish top formation. Bulls will return only above 4474 and 4600 on weekly closing basis

 

Reliance – Reliance closed below fresh 4 week low. Alarming sell signal as per Donian's 4 week rule and also lagging nifty
Overall Bulls are defending 4155 levels in nifty and bears are defending 4474 levels on weekly basis. Breakout and sustainability
on either side will confirm the trend direction.
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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