Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Trying to find Supports/Resistance for the current Trend

29 sec read

5 EMA (High-Low)


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1)5 EMA (High-Low)Shows resistance above 4443 and 4582
2)Daily Trend indication is downwards until it retains above 5 EMA(low) – 4443
3)Retaining above 5 EMA(low) indicates a sideways movement between 5 EMA(Low-High)
i.e between 4443-4582 for couple of days

5/13 EMA Indicator


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1)Indicates Daily trend is down as it the daily candle closes below 5 EMA
2)Base trend support at 13 EMA 4372.
3)Still Now no bearish 5/13 EMA crossover

Overall

1)Both the strategy producing mixed signals.
2)Both the strategy will indicate a sell signal if closes below 4372 on EOD basis
3)Both the strategy indicates a neutral(sideways) to buy signal if closes above 4496
which could act as a resistance for current downtrend journey

Related Readings

1. Simple Rules to Trade Using 5 EMA(LOW-HIGH)
2.Fibonnaci Support and Resistance Level Update for Sensex

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

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