Simple 5 EMA High-Low AFL with Interactive dashboard. Strategy suits for higher timeframe like daily, weekly, monthly
Nifty attempts to close below the 5 EMA(5435) Weekly Chart for the very first time since June,2010. Building open interest in 5500 is the first sign of
the continuation of the bearishness for the September coming series.
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
Nifty is trading in a rangebound zone between 5EMA(High)-5EMA(Low) zone for the past 4 days. 13 EMA is added along the 5 EMA(High-Low) strategy. After applying we could find that additional EOD resistance zone is near 4853. A Strong overhead resistance is near to this point.