Nifty and Bank nifty is in sell mode for a very long time in the hourly intratrend charts. Currently the resistance zone is coming around 5846 and 10415 respsectively. Also the stochastic momentum indicates very extreme readings in nifty and likely a turnaround from the bottom lows. An increasing stochastic momentum on nifty hourly charts suggest a recovery from a bottom. It is advisable to track stochastic momentum at current levels to identify bottom formation and can play the reversal in small quantities of long only if the stochastic momentum(35,3,3) increases on the hourly 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 and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Nifty and Bank Nifty Future August Outlook
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i am senior citizen aged 73 yrs interested in nfty/bank/stock futures with minimum loss could you be helpful
yours
pasmudaliar
pl send intratrend afl code
thanks