Nifty and Bank Nifty are in sell mode with resistance coming around 5313 and 10313 respectively. Reverse your positions to long if the resistance breaks on the upper. Still 5200 is protected on the downside due to too much of 5200PE writers and their piled up Open Interest.
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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 90 charts for 9th March 2012 Trading
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Thanking you,