NIFTY DAY CHART - II
- NIFTY spot has just managed to close outside the upward moving channel
- MACD has already given a sell.
- 5 EMA is now below the 7 DMA its time to go short
- 5180 is a good support zone.
- 5220-5235 may act as a minor support zone.
take care
hi san,
ReplyDeletenice to c ur blog and the dedication ur working with,keep it up.
i have 1 request for u, that if possible plz do the postmortem(tech analysis) of ACC as it is in correction mode and showing a very good positive divergence in daily charts rite now.
but i will request u to do it after mondays closing. that whether it will brk down or brk out.
if its go higher what will be the possibility of getting resisted at previous highs.
thanx
warm regards
saurabh moond
Hi Avinash,
ReplyDeletefirst sorry for the delayed reply i was caught up with some personal work.
Every crossover trading has it advantages and disadvantages.
If you wait for the 50 EMA crossing the 200 SMA in daily chart you may end up doing the perfect trade But unfortunately i don't have that much patience.
about 5 EMA 7 DMA this one can tell you when the trend is going to change But may give many false signals. But you can get a good indication when the trend is going to change.
We are trading in a broad range 4650 to 5400 and when we are close to the top of the channel we should look for the crossover's that worked in the recent past and for me 5EMA and 7DMA has given the maximum points
One more thing about crossovers is that it is personal to each traders. some use the 5EMA 20 SMA this can give you good trades and false signals so there is no fixed rules use crossovers with other tools like MACD and STOCHASTIC.
@Dr. Saurabh Sir,
ReplyDeleteThanks for your motivation. I will take a look at the ACC charts.
thank you