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.

Trying to find Supports/Resistance for the current Trend

29 sec read

5 EMA (High-Low)


 

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


 

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 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.

GANN Shorter term update for Nifty as on 15…

  GANN Supports zone near 5005. More weakness below 5005 as next support near 4780. Avoid longs if nifty dips below 5005. Source: www.marketcalls.in
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5 sec read

Larsen and toubro update

  Trailing Stop Loss Update for Larsen and Tourbo   Cover Shorts and reverse the position if LT closes above 1665. Source: www.marketcalls.in
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6 sec read

JP Associates is getting Weaker

  1)Stock is showing massive MACD divergence 2)Price is currently below 13,34,55 EMA and these levels could act as a resistance in coming sessions. 3)Stop loss...
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12 sec read

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