Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

How to Profit from Nifty Intraday

2 min read


 

Nifty Data for 17,June 2008
 
Open : 4573
High  : 4664
Low  :  4561
Close : 4653
 
 
Click the above chart to get enlarged

3min – EMA  – Red Line (closely following candle Stick)
13min – EMA – Green Line
34min – EMA – Black Line
55-min EMA – Gold Line
200 min EMA – Yellow Line ( Wont visitble good in white background so i kept it orange )
 
 
 
Nifty Recap :
If you notice the yesterdays chart you would find that market started slightly sluggish but ended 80 pts higher. But how to guess that market
is strenghthening. Here are the TWO Simple rules to follow which we already mentioned previously in my last article
 
 
Once Again Repeating the Same Formula
 
Two Simple Rules to Follow
 
1) Go Long if 3 EMA is  above 13 EMA and 13 EMA is above 34min EMA with stop loss below 34 EMA
2) Go Short if 3 EMA is below 13 EMA and 13 EMA is below 34min EMA with Stop loss above 34 EMA
 
 
So If you witness the chart you would find that A White candle surpasses (near 4586pt) the 13 EMA and 13 EMA is also above 34min EMA So a Long Signal is generated here So do keep a Stop loss below 34 min EMA(Let Say 4565 Approx). So whenever the 34 EMA moves upwards do move your Stoploss also to
avoid maximum loss incured or to reduce your wastage of your profit.
 
Also Have an Eye on Stoch Indicator. Whenever the the blue line(%K) crosses the Red Line(%D)  at or below 20% level it is considered as oversold level
and if Red line(%D) crosses the Blue Line(%K)  at or above 80% level it is considered as Over Bought Level.
 
But in yesterday's case The Stocastic RSI crosses Once in a while after the Long term Buy signal Nearly at 4605 level. But Still the 3EMA is above 34 EMA. Keep your eye
very close here and check whether we are falling below 34 EMA or gonna above 34 EMA. If you are sure that 3 EMA is going to cut 34 EMA then you should have to cover you long
and to exit with the profit gained. But nifty seems to be hold nice here. 3 EMA doesnt cross 34 EMA in Yesterdays Chart. So You can hold the call for further gains and cover your calls at the end of the day. If you witness that market is in bullish momentum then you can carry forward your calls for the very next day. So a total gain of (4655- 4585 = 60pts) in your hands can be in your hands.
 
 
Remember : These Two rules wont follow in a range bound market and well behave in case of volatile market
 
For Real Time Intraday Charts visit our blog NSE Tracker ( Also found in our Important Link Section). Where you can find a nifty intraday chart with above mentioned EMA's
Also you are requested not to take trade based on this two simple theory alone. As lots of patterns and signals are there and
this pattern is one among them.
 
We will discuss more strategies in comming days. Till then stay tuned to book your profits
 
For any queries or clarifications please feel free to contact me at rajandran@marketcalls.in
 
 
Related Topics :
 
Simple Intraday Strategies to be Followed
 
 
 
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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One Reply to “How to Profit from Nifty Intraday”

  1. we want to LEARN more abut simple calculation of EMA 3MIN,13MIN, 34 MIN, 55MIN,
    IS THEIR ANY EXCEL FILE TO CALCULATE SAME, IF POSSIBLE GIVE SIMPLE WAY TO CALCULATE with LIVE DATA to get EMA VALUE SO WE UNDERSTAND VERY EASY. so we can predict perfect value for entry and exit

    from manan jhaveri

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