SH's MArket Correction Prediction Strategy

[AlokTewari]

difference between ema15 and BNF on 15 or 16 march is very small. I think this can be considered as a touch.

Sh ? what say?

vin

I think BN Spot price had touched 15EMA wheras Future price did not touch. As far as coming close should not matter because not touched is not touched. If coming close is followed then it becomes subjective matter & not part of strategy. Maybe SH will throw some light on this as to how to deal with this. Since 15EMA is almost 200 points away & intraday high of 9708 made on 7th April is only 40 odd points away, going short with SL of 9720 or so would still give favourable risk reward ratio of 1:4.

Cheers !!!

Alok Tewari

 

[Tradewithhunter]

I think BN Spot price had touched 15EMA wheras Future price did not touch. As far as coming close should not matter because not touched is not touched. If coming close is followed then it becomes subjective matter & not part of strategy. Maybe SH will throw some light on this as to how to deal with this. Since 15EMA is almost 200 points away & intraday high of 9708 made on 7th April is only 40 odd points away, going short with SL of 9720 or so would still give favourable risk reward ratio of 1:4.

Cheers !!!

Alok Tewari

Guys - Please note that I have only mentioned correction timeframes for NIFTY only ... I cannot comment about Bank Nifty.

Cheers
SH

 

[sasi0263]

Hello SH Sir,

The last 15 EMA kiss by NF was on 25 Feb as per the attached chart. Now we have entered in 7th week. Pls comment.

 

[Tradewithhunter]

Hello SH Sir,

The last 15 EMA kiss by NF was on 25 Feb as per the attached chart. Now we have entered in 7th week. Pls comment.

Sasi - the last kiss was on 26th Feb and not 25th Feb. Please check your chart closely.

We are indeed in the 7th calender week, however deducting holidays we will end the 6th trading week today.

NF right now is very close to 15 EMA (NF low 5312 with 15 EMA at 5300).

We might see a dip later in the day where 15 EMA might get retested.

Unfortunately technical analysis is not an exact science, so even if 15 EMA is retested later this week, I wont be disheartened. A few days here and there are ok.

If 15 EMA doesnt get retested at all in coming weeks, I will take it as a failed trade and move on.

Cheers
SH

 

[AlokTewari]

Even Bank Nifty future has corrected almost 200 points & about to touch 15 EMA.

 

[Tradewithhunter]

Even Bank Nifty future has corrected almost 200 points & about to touch 15 EMA.

It has touched 15 EMA now at 9500.

NF is now at 5309, almost there....

Cheers
SH

 

[sasi0263]

Yes SH,

Last 15DEMA kiss was on 26 Feb. Got it after close watch

Sasi - the last kiss was on 26th Feb and not 25th Feb. Please check your chart closely.

We are indeed in the 7th calender week, however deducting holidays we will end the 6th trading week today.

NF right now is very close to 15 EMA (NF low 5312 with 15 EMA at 5300).

We might see a dip later in the day where 15 EMA might get retested.

Unfortunately technical analysis is not an exact science, so even if 15 EMA is retested later this week, I wont be disheartened. A few days here and there are ok.

If 15 EMA doesnt get retested at all in coming weeks, I will take it as a failed trade and move on.

Cheers
SH

 

[AlokTewari]

So now Bank Nifty can also be counted to follow this strategy of touching 15 EMA within 6 weeks ( after good 200 points profit with risk reward ratio of 1:4:thumb: ).

Cheers !!!

Alok Tewari

 

[Tradewithhunter]

Dear Friends,

Nifty nosedived today to kiss 15 EMA and close below it.

I counted the number of candles on daily charts after 26th Feb.. and today was the 30th day.

So Nifty did correct and kissed 15 EMA within 6 weeks ! :lol:

Enjoy
SH

 

[itprodeepak]

Thanks SH,

I booked all my puts today after 15 EMA is touched... now will go positional short if 315 down crossover happens in next 1-3 days in nifty futures...

Thanks for the strategy guidance...

Deepak