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 Weekly View using Classical Technical Analysis

29 sec read

Nifty Weekly Charts

 
This time using the classical technical analysis tools to analyze the how to play the trend reversal in nifty. Currently Nifty spot is trading below 5900 and On the weekly charts as per 5EMA high-Low strategy nifty is in sell mode for the past 6 weeks. And the RSI(2) and CCI(4) indicates oversold levels in Nifty Spot Weekly charts. Currently 5800PE is the highest open interest builtup area among the other strike price.

Base onthat it is prefered to go long above 5920 for positional if nifty spot closes above 5900 on EOD basis with the stoploss of 5880 as i do expect trend reversal is nifty manages to close above 5900 for this week. On the down side 5800 will be the support for the current option series as most of the put writers believe that 5800 is a very good support 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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4 Replies to “Nifty Weekly View using Classical Technical Analysis”

  1. you are always doing an excellent job.keep it up.I hope you remember the chennai seminar where we met

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