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Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty and Bank Nifty August Futures Positional Charts

36 sec read

Nifty Hourly Charts
Nifty Pos
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Nifty and Bank Nifty August Future hourly Charts are shown. The Positional Trend in both nifty and bank nifty future is currently in down trend and there is a strong divergence in nifty and bank nifty since June 26th which indicates that nifty is unlikely to make new high unless banknifty(supportive index) turns to move in-line with nifty.

Bank Nifty Hourly Charts
Bank Nifty Pos

Bank nifty had very recently broken the 10 month low on the monthly spot chart. However nifty still havent broken the 10 month low level which is at 5477. This indicates strong price divergence in nifty and bank nifty and reduced momentum in nifty to test newer high.

Nifty august future on the hourly charts turns to sell mode on 24th July with current resistance coming around 6120 and banknifty is in sell mode since 16th July with resistance zone coming near 12240. Reverse your position to positional buy mode if the resistance breaks on the hourly charts

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in
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6 Replies to “Nifty and Bank Nifty August Futures Positional Charts”

  1. For quite some time, I have been unsuccessfully trying to find proper Nifty symbol to use with OptionsOracle v1.60 & PlugIn Server India (NSE). I saw several posts on the net and came to a conclusion that you are possibly the best person to know about this. I shall be obliged if you tell me how to get Nifty data using OptionsOracle.
    If OptionsOracle doesn’t work with Nifty, is there any similar Options Visualizer software which can work with Nifty?
    I apologize for taking this liberty of writing to you and shall be really thankful for your reply.

    Sanjeev

      1. Thanks a lot for your prompt reply, Rajandran.
        I visited the specified link but did NOT find any solution even after careful search. I only got confirmation of my problem from several other users.
        I have written to OptionsOracle several times about this but there’s no response from them.
        If you are using OptionsOracle successfully with Nifty, kindly let us know. Hundreds of other users like me will also benefit by your solution.
        Thanks again.

        Sanjeev

  2. I too have the same problem as Sanjeev. I can see banknifty and other stocks but not nifty in oo.
    I m using windows vista.
    Please help me.

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