iCharts Discussions

ankur11_11 · White Belt Joined: 11 Jan 2010 Posts: 146

Price movements reflects every phenomena - so charts are all that can tell us about the movement along with the trader sentiments in the market.
I am posting a new kind of topic ...... to track down nifty movements ........ its ....overbought and oversold condition ........ to help ourselves in every way of trading ..... long term ...medium term...short term .... intraday ...alllll.

first thing is to ....tracking the nifty movement ..... in that case ..... i also need the help of all knowledgeable forum members ......... for opinions ....for rectification .... for new views .... so that we can form a SOLID knowledge of nifty movement.

i apologies to all ..... if i am talking too much ..... now i am posting my view ....
i am on bullish sentiment now ..... from 4700 .... i am long in nifty fut ..... and .... i hope for 4950 in few coming session ....... MACD is indicating a buy signal now .... though mkt may be ranged bound for some time ..... because of the budget .... serious buying may not take place ...... in that case ..... i am searching for a signal for sell ...... but still ....there is none.

For intraday ........ volatility is much ........ i trade according to intraday EMA crossover ....... i would like to discuss these all with a knowgeble person ......

PLEASE LET ME KNOW YOUR OPINION AND RECTIFY ALSO IF I AM WRONG ............ I BELIEVE ..... THIS IS NOT A PLACE TO SAY .... "I KNOW THE BEST" ....... every moment we learn something from market ............... i do not want to predict the future ....... charts reflects me the condition of the market .... strong or weak .... over bought or over sold ..... and i invest likewise.

THANKING EVERYONE
ankur

RMOHAN77 · White Belt Joined: 17 Dec 2009 Posts: 7

Hi Ankur
you have mentioned intraday EMA cross over . if possible please give intraday EMA value.
Advance Thanks

ankur11_11 · White Belt Joined: 11 Jan 2010 Posts: 146

Hello RMOHAN ... it will be illusive ....... because EMA changes all the time ........ If you still need some help with support and resistence .... do some ..pivot calculation ... can use woody method ..... so on ....... personally i don't like this .... because ... price change is very dynamic ..... support ....resistance also changes ......
in the attached file .... you see ... when 13 ema crossing downward thw 34 ema nifty is then at 4820 ( first time crossover - future was at discount) ... it is always advisable to hold on to the position until 13ema crosses 34ema upwards .... that means .... you can use it as stop loss ........ around 10:40 there was a try to go over 34ema .... and i had to buy back my position ..... but observe the macd ... it was not so bullish ...... so i waited again ...... and see the result !! .... i bought half at 4792(future was at discount too) ..... though index made more low .. but it always takes a bit time to indicate bullish nature .... we can't think to buy at most low and sell at top every time . And i bought my rest half position at 4804 (future was on discount too but less) when 13ema again cross the 34ema upwards ....... so you see .... if we go buy on future .. the support and stop loss is 34ema .... and if we go sell on future ...34ema is the resistance and stop loss again ....... and 34ema changes all the time ......
Intraday ..... this is the best strategy .... i have been fade up by hitting static stop loss again and again and again .......
SL is a good thing and very thing too ....... if you hit SL too many times ........ you will lose further encouragements ....... more over ....SL of 15 points means ..... 15+ 5 or 6 points of brokerages ...... so i believe to trade in trend ..... that way ...we can minimize hitting SL frequently.

Thanks for being interested ......
ankur ...

RMOHAN77 · White Belt Joined: 17 Dec 2009 Posts: 7

Hi Ankur,
Thanks for your valueable explanation. Sorry for asking again one more query. In your given diagram which values used in MACD & STS
Advances Thanks.

ankur11_11 · White Belt Joined: 11 Jan 2010 Posts: 146

Hello RMOHAN,
MACD typically uses 26- and 12-day EMAs ..but as per the chart i have uploaded ...... frankly i don't know ..... it is by default and the values can't be changed in case of all the indicators (from rt-charts - free & live)----but .... simply it acts .
it will be good if you know some good values of these .... please let me know ...... i would like to try.. i like experiments.

thanks for everything