Though Nifty and Bank Nifty is in sell mode on the 90 min charts. When looking into the Higher timeframe charts i.e on 4 hourly charts both the nifty and bank nifty are at the extreme ends of the ichimoku cloud supports. There is a possibility of Nifty and Bank Nifty holding these supports. Nifty Supports coming around 4866 and Bank Nifty at 8786.
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Nifty and Bank Nifty 4 hourly charts for 12th Dec 2011
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