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.

What Indicators Tell About Nifty

15 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.


 

Major Indicators

Average Directional Index ADX: 37 – (Bullish)
5 day RSI: 83 (overbought)

Intraday strategy: Buy on declines target R1-R2.

Regards,
Rajandran R

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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