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 5638 and 10033 respectively. Also the stochastic momentum indicates increasing from very extreme readings in nifty. An increasing stochastic momentum on nifty hourly charts suggest a recovery from a bottom. Reverse your position to longs when the resistance breaks on 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 BankNifty August Futures Outlook – II
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4 Replies to “Nifty and BankNifty August Futures Outlook – II”
Dear Rajandran sir nice work.how can i download intra trend afl .
Intratrend AFL is not an open source AFL code and it is not available for public download
please tel l me how to backtest in mt4
I am ashish purohit from jaipur and i have ben watching your site for long now..i am in a sales job and wanna switch to research part…i know little about technical analysis but wanna learn more…can you help me in this.