Last few Sessions and Weekly close have been above 200 dma indicating Technical bullishness.
Lets check the Probabilities now with the Charts & Observations for the Trading Insight.
Showing posts with label intraday nifty chart. Show all posts
Showing posts with label intraday nifty chart. Show all posts
Sunday, September 15, 2013
Elliott Wave & Technical Analysis for Nifty
Last few Sessions and Weekly close have been above 200 dma indicating Technical bullishness.
Lets check the Probabilities now with the Charts & Observations for the Trading Insight.
Monday, May 2, 2011
Update for Nifty Trading
Few observations for today's trade -
1. The 'Osama' effect was missing in action, though the Bears had a little party to celebrate.
Tuesday, April 26, 2011
Thursday, March 24, 2011
Nifty Trading for 25-03-11
Today's close was with a Bullish undertone, yet not decisive as it failed to close above the important price level of 5540. But importantly Prices have closed above the Weekly volume resistance of 5510 level as well as 50dma.
Friday, October 22, 2010
3 13 34 ema 5mTF intraday NIFTY spot chart
AARVEE had explained and
pointed out this during intraday
[refer http://o-j-n.blogspot.com/2010/10/chart-update.html]
the use of 13ema 34ema on the 5min Yahoo chart.
[The chart is available at the bottom of the posts in this blog live on refresh]
This is an addon to explain it.
3. This is best used when confluence happens on key Support or Resistance levels.
3a. Target is the next key level with SL mid point of the level in reverse (if you are long at R1 then Tgt is R2 and SL is mid point between R1 and Pivot / S1)
4. once breach 34 ema hold position till the time 3 ema is not breached.
4a. May add position on bounce of 13 ema.
4b. In practice, once meets target of R2 and holds there , move up SL and revise Tgt for R3.
5. use STS and RSI to see overbought and Oversold scenario is in sync with the ema confluence.
IF NOT DO NOT ENTER TRADE.
sujatha's input:
for short term we can book out @ 34 ema..this is working out very well.
Apart from technicals, one need "good knowledge and observation" of markets.
Example - Most expected upside yesterday as per TA but didn't touch,
Observation of "price behaviour" is important according to me.
It doesn't mean TA is not good. :) that is a precautionary step for trading,
once "market opens" all will change.
i will book 50% @ 34 ema without any secondary thought. (intra)
My policy is "day trader" should not wait for the "exact target" whenever it comes book profit once
and "trail the sl"
then book @ swing (if know the swing level) 3rd part is positional.
2.Take only one trade in a day.Intra gives both sided pure opportunites only few days a month.
3.emas though are lagging but are safe ,wait for one candle to get below the bearish/bullish cross for added safety.
4.s/l should be put as per risk appetite but should be practical to give breathing space to the trade.
5.Indicators should not be much of a concern in 5min TF (on friday also u can see that trade on short side developed in oversold region of stochs.)
6.Profit booking should be done on the next target /pivot,we had 6050 in mind below 6090 from premkt.)
7.also note that 6114 was mentioned by sujatha and 6105 by vol. profile as imp. resistance.look for the confluence area below/above it and wait for signal to trade.Mkt gives time and tug there for enough time to enter as the level is imp. for both sides in a sideways mkt.
8.target should also be defined by the range of nifty or say the ATR.I have found half of the range as a realistic target and remaining half gives the trade signals and whipsaws.
Normally i find only a single onesided trade that if enetred well will do the needful in an hour.i.e both entry and exit.rest of the time is watching signals and general tug of war not reqd. to be read into.
9. Possible trade should be with the trend and if the trend is sideways (as is since few weeks)trade should be light and nimble.
10. There will always be loosing trades .If fast enough to reverse a loosing trade then ok or else one should get stopped, sit out and enjoy.
pointed out this during intraday
[refer http://o-j-n.blogspot.com/2010/10/chart-update.html]
the use of 13ema 34ema on the 5min Yahoo chart.
[The chart is available at the bottom of the posts in this blog live on refresh]
This is an addon to explain it.
alphabet1's additions:
1. Target 20 to 40 point max to begin.
2. Get out of trade in half hour in case nifty do not move as anticipated.3. This is best used when confluence happens on key Support or Resistance levels.
3a. Target is the next key level with SL mid point of the level in reverse (if you are long at R1 then Tgt is R2 and SL is mid point between R1 and Pivot / S1)
4. once breach 34 ema hold position till the time 3 ema is not breached.
4a. May add position on bounce of 13 ema.
4b. In practice, once meets target of R2 and holds there , move up SL and revise Tgt for R3.
5. use STS and RSI to see overbought and Oversold scenario is in sync with the ema confluence.
IF NOT DO NOT ENTER TRADE.
sujatha's input:
for short term we can book out @ 34 ema..this is working out very well.
Apart from technicals, one need "good knowledge and observation" of markets.
Example - Most expected upside yesterday as per TA but didn't touch,
Observation of "price behaviour" is important according to me.
It doesn't mean TA is not good. :) that is a precautionary step for trading,
once "market opens" all will change.
i will book 50% @ 34 ema without any secondary thought. (intra)
My policy is "day trader" should not wait for the "exact target" whenever it comes book profit once
and "trail the sl"
then book @ swing (if know the swing level) 3rd part is positional.
aarvee adds:
1.I take only 13 and 34 ema as 3 ema gives lots of whips.and its obvious that in a 5 min TF use of 3will not be very fruitful.
2.Take only one trade in a day.Intra gives both sided pure opportunites only few days a month.
3.emas though are lagging but are safe ,wait for one candle to get below the bearish/bullish cross for added safety.
4.s/l should be put as per risk appetite but should be practical to give breathing space to the trade.
5.Indicators should not be much of a concern in 5min TF (on friday also u can see that trade on short side developed in oversold region of stochs.)
6.Profit booking should be done on the next target /pivot,we had 6050 in mind below 6090 from premkt.)
7.also note that 6114 was mentioned by sujatha and 6105 by vol. profile as imp. resistance.look for the confluence area below/above it and wait for signal to trade.Mkt gives time and tug there for enough time to enter as the level is imp. for both sides in a sideways mkt.
8.target should also be defined by the range of nifty or say the ATR.I have found half of the range as a realistic target and remaining half gives the trade signals and whipsaws.
Normally i find only a single onesided trade that if enetred well will do the needful in an hour.i.e both entry and exit.rest of the time is watching signals and general tug of war not reqd. to be read into.
9. Possible trade should be with the trend and if the trend is sideways (as is since few weeks)trade should be light and nimble.
10. There will always be loosing trades .If fast enough to reverse a loosing trade then ok or else one should get stopped, sit out and enjoy.
Tuesday, August 17, 2010
Monday, August 2, 2010
EOD
-Today's close is quite bullish above Daily & Weekly 5d high emas.
-FII's have been big buyers today apprx.728 cr. Friday's figures (in a down mkt.) are nearing +1000cr.
-O.I shows accumulation at 5600 call &5300 put ,with aggresive writing of 5400 puts.
-Short term Indicators in 5min ,30min,& hrly have moved to o/b zone with 5min showing negative diversion.
-Major resistance is coming at 5475 levels.(previous top ,approx. rising wedge trendline which was broken last week & bollinger band top in daily charts at 5485 .)
-Those long today should once book out near 5475 if trades near it early in the day.Long enrty can be done near 5420 with a s/l below 5405.
-Trade light till closes above 5475 .
Thursday, July 29, 2010
INTRADAY
Was about to post this chart below at 5395 levels.still check it out
Update: It cuts above zero line of macd and makes a new day 's high.my ,my!!!
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