Nifty and Bank Nifty are in positional buy mode since Nov 23rd. Currently the Nifty and Bank Nifty cloud support zone are at 5885 and 12159 respectively.
On the Nifty Options side still 6000CE has the strong open interest as of now 6000 zone is considered as temporary resistance zone. Breaking the 6000 barrier could be even more bullish for this rally.
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 min charts for 7th Dec 2012 Trading
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