Sanju, Paliorocks is a nice site. Thanks for sending the link. But apart from intraday, EMAs can be good for positional nifty. As per my system, I enter by 1 day chart and hold my position watching the 5 days chart. Sometimes, after nifty making a big intraday move keep quite for 2/3 trading sessions and remains rangebound and choppy. Most traders give up the gains they have made during the choppy market. Thats why I use 5 days chart as exit as it helps me in holding my position instead of entering and exiting every now and then.
Asides to Kiran, 3 EMA can frequently cross 13 if the trend is not so strong, but 13 seldom crosses 34 in whipsaws. Better to enter a position when all the following things happen:
In this way most of the time we can avoid the choppy market. The same system can be used in trading Bank Nifty which is nowadays more volatile than Nifty.
Regards,
Indrajit
Asides to Kiran, 3 EMA can frequently cross 13 if the trend is not so strong, but 13 seldom crosses 34 in whipsaws. Better to enter a position when all the following things happen:
- EMA channel crossover happens
- RSI crossing above or below 50
- Stoch crossing above or below 50 in the same direction of nifty and RSI
- 5 days chart RSI and Stoch also moves in the same direction crossing mid-point.
In this way most of the time we can avoid the choppy market. The same system can be used in trading Bank Nifty which is nowadays more volatile than Nifty.
Regards,
Indrajit
i tading like--
for nifty positional
i long nifty till it brks previous day low and viceversa for short postn
...jst sharing my exp only
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