Trend Ratio suggests major long positions has been built into Nifty and BNF over the weekend. If tomorrow we trade above the upper levels, stay bullish. Break of the Balance levels will mean these longs are trapped and can lead to fast downsides
Will not be in markets tomorrow due to some personal work, hence posted this today.
Nifty short covering on Friday given the strong move in Nifty fut is obvious. But what's interesting is the huge short covering on BNF with only 0.5% upmove in price. Morning should be bullish, then watch out how the OI behaves
Lastly, all the calculations for Upper/Lower/Balance/Trend Ratio are my own development and I won't share the formula or process. So request stop asking me about those. Thanks.
Working on two quantitative logic to analyze intraday trend and volatility. Nifty fut and BN fut charts attached.
Intraday Trend :: Blue = Uptrend , Red = Downtrend , Yellow = No Trend
Intraday Volatility :: Red = Volatile , Yellow = Normal , Gray =Quiet