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 Weekly Technicals

December 20, 2008 19 sec read

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CMP : 3077.5
2 Period Weekly RSI : 91.38
5 EMA Support : 2920
20 EMA Resistance : 3371

Dollar Shows some sharp bounce back from its lows last friday. May be FII's are booking
their longs and nice profits in Shares+Dollar Gains. Looks Maximum Upside is upto
3175 on closing basis where it could act as a resistance and can retrace from that
level. Which is 50% of rectracement line 6350/2 = 3175.

Also Altime Low is 2250 so a 50% retracement from low = (2250+ 2250/2) = 3375

Overall Market upside is limited to 3175-3375