Nifty is still in sell mode on the 90 min time frame and trading very close to the cloud with resistance and intermediate resistance coming near 5298 and 5324 respectively. Exit your longs above 5298. Bank Nifty had recently turned to buy mode. If nifty too breaks the two upper level resistance then one can enter longs positionally. Bank Nifty chart is trading currently above the Intermediate support 10367 any reversal below that indicates shorter term reversal in bank nifty.
Bank Nifty 90 min charts
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)
Nifty and Bank Nifty 90 min and Open Interest Update for 13 Apr 2011 Trading
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