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 View for 19 JAN – 24 JAN

January 18, 2009 27 sec read

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This is for those who believe in 5 EMA and 2 Period RSI trading system, And as of now it is clear from the weekly charts that after a 4 consolidation weeks(Top Formation) as explained in Simple Nifty View , nifty started moving down on weekly basis which is positively the confirmation of negative trend with weekly resistance near 2892 and also the falling RSI-2(28.6) below 50 with negative trend shows that more painful days in coming weeks.At any point of time the maximum upside is limited to 31 EMA on closing basis

which is 2913 as of now.

The Picture is very clear. Dont try to trade against the trend.