Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty and Bank Nifty Trend update using 90 min charts

30 sec read

Nifty 90 min charts

 
Now its really interesting to watch the price action in both nifty and bank nifty as both are in sell mode on ichimoku charts and hanging very very close to the cloud resistance zone 4990 and 9655 zone on the 90 min timeframe. Breakout and sustaining above the resistance level will turn the trend to buy mode otherwise shorting is recommended until the resistance zone breaches.

Still 5000CE holds considerable amount of higher open interest but slightly lower when compared to 4800PE(Which has been heavily by put writers right from monday onwards). This indicates the possibilities of resistance zone developing near 4990-5000.

Bank Nifty 90 min charts

Action Points Need to be taken :

1)Bulls needs to wait for a close above 5000 to take positional longs
2)Bears can hold their shorts with 4990-5000 as a strong resistance zone

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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2 Replies to “Nifty and Bank Nifty Trend update using 90 min…”

  1. hi raj,
    Applied custom timeframe of 75 min. on charts , but it gives 6 candles in nifty instead of 5 , why so ? and can we change it to 5 candles ? tx in adv .

  2. Is it possible to get live feeds from cbloomnews.net into ami? or is it purely eod with the facility of getting minute candles? Also how does one only load his favourite stocks only? Thanks,

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