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.

[TradeZilla] Nifty and Bank Nifty Market Profile Summary – 6th Apr 2016

1 min read

Nifty Daily Profile Chart
NFAPR (30 Min)  06_04_16

1)Nifty Opened within previous day value area. Open type = OAIR (Open Auction in Range) and Day Type = Normal Profile

2)During the Initial Auction we suspected a balanced day as market opened within the previous day range with OAIR. Price rotations happened around the open.

3)Mechanical Buying Reference at 7608. It is a weaker reference as well because is a visual and mechanical reference Shorter timeframe buyers are mechanically entering in that zone likely to get hurt in shorter term.

4)we have now two weak high reference point on the upper side at 7793 and 7669 level.

5)Profile was balanced after the trend day. And a fatter profile with prominent POC at 7627

6)EOD sentiment holds negative for the Second day.

7)Next major visible reference on downside at Mechanical Buying Reference at 7608 and 7430 (Poor Low)

8)Carry Fwding 7900CE shorts taken at 42 (300 shares) and 7500PE longs at 62 (300 shares)

Nifty Future EOD Sentiment
NF Sentiment

Bank Nifty Daily Profile Chart
BNFAPR (30 Min)  06_04_16

1)Bank Nifty future Opened below previous day value area but within previous days range. Open type = OAIR (Open Auction in Range) and Day Type = Normal Profile

2)Failed Auction high (FA High 16263) formed after RBI announcement is remain untested. Failed auction has a tendency to revisit the high within t+5 days. And Weak High formation at 15879.

3)Profile was balanced after the trend day. And a fatter profile with prominent POC at 15738

4)EOD sentiment holds negative for the Second day.

5)Next major visible reference on downside at 15187 (Mechanical Buying Reference)

6)Intraday witnessed IB breakdown followed by Onetimeframing withing the balance. Which generally favors intraday short as this patterns generally represents the day timeframe traders are pushing the market higher in one direction and more likely to get hurt and the auction is likely to proceed in the prev direction. Made 77 points in shorting BNF futures 150 shares.

Bank Nifty Future EOD Sentiment

BNF Senti

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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