Rajandran R Follow Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, 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. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Nifty Weekly View using 5 EMA(high-Low) Principle

October 22, 2009 19 sec read

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Applying 5 EMA(High-Low) Principle to weekly charts we could found that 5EMA(High) is near 5103 which indicates that 5103 could act as resistance levels. As the trading week is going to end by tommrow nifty failing to break the resistance levels and closing below 5103 is likekly gonna bearish and could target the first zone of 4900. Nifty failing to close above 5103 clearly indicates that medium term trend has turned down. Nifty resistance zone for tommorow is 5080-5100 levels.