Rajandran R FollowTelecom 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)
5 EMA Weekly Trading View for Nifty
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Applying 5EMA(Low-High) rule to the nifty weekly chart we could find that the recent nifty weekly candle got housed between the 5EMA high line and 5EMA low line. i.e between the instance weekly support point 5184 and the weekly resistance point 5325
And when looking into the simple 5EMA strategy we could still find that for the 8th week still nifty maintains closing above the 5EMA line consecutively on weekly basis . And the current 5EMA lines near 5274 which could be support on weekly basis. Any close below 5274 on weekly basis could be an indication of medium term weakness on the system.
Rajandran R FollowTelecom 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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