Rajandran R FollowCreator 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
What Indicators Tell About Nifty
16 sec read
Nifty CMP : 4476
Today we can some more upside towards 4500-4567. I tbe chart, we can see strong resistance at 4550 levels and also currently nifty is in oversold zone , so profit-booking cannot be ruled out at higher levels. On the lower side, 4240 will act strong support zone.
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Major Indicators
Average Directional Index ADX: 37 – (Bullish) 5 day RSI: 83 (overbought)
Intraday strategy: Buy on declines target R1-R2.
Regards, Rajandran R
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Rajandran R FollowCreator 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
