Trading on Algo principles:
Algo trading levels on NIFTY_Spot
R1 :: 8977-8986 & Alert levels for Shorts-8997
S1 :: 8908-8898 & Alert levels for Longs-8888
Overnight Premium = 27.20
So derived Algo trading levels on derivative NIFTY17MARFUT
R1 :: 9004-9013 & Alert levels for Shorts-9024
S1 :: 8936-8925 & Alert levels for Longs-8915
Please keep on booking profits.
I trade with tight trigger orders modifying many times on profit-loss both side. Giving Market and Myself equal chance and room to prove each other true or false.
Buy first Sell later when Market is in Support clouds whereas
vice-versa when market is in Resistance clouds.
This is already discussed in one of my previous ideas.
You may go through below visualisation and explanation
Ideas Subject line:
1. Way to trade on these derived levels
2. Nifty levels to watch for 1Feb2017 _ Budget Day
3. Nifty levels to watch for 23Jan2017 _ explaining gravity of levels
Which software you use for deriving these Algo Levels. Will call you after market hours.