- Category: Trading Methods
How to Profit from Nifty Intraday
Open : 4573
High : 4664
Low : 4561
Close : 4653
3min – EMA – Green Line (closely following candle Stick)
13min – EMA – Red Line
34min – EMA – Blue Line
55-min EMA – Gold Line
Nifty Recap :
If you notice the Intradays chart you would find that market started slightly sluggish but ended some points 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 our examples 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 TipsNifty.Com ( Also found in our Top Menu 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