hi babu,
i have a query here regarding EMAs used.
the 3, 15, 34, 100 and 200 EMA you have used, are they only for the purpose of support?
will you be going long, when price just move up from these emas?
hi babu,
i have a query here regarding EMAs used.
the 3, 15, 34, 100 and 200 EMA you have used, are they only for the purpose of support?
will you be going long, when price just move up from these emas?
Those are some important ema's relating to 315 strategy and 34,100 ema are relating to market correction strategy both by SH. Check the bottom of the screenshot, according to SH NF price will correct to respective ema's at a certain point of time.
My point in the chart is that NF-I had a hard time saying below the lowest window(Blue arrow on the left). The candle of 14/2/2011 and 24/6/2011 has the same opening price i.e. 5436 and both resulted in huge bull candle.
But the bigger picture is what Babu gave on Nifty that its longterm uptrend is still active.
:lol: the joys of TA
One thing common to both charts is :
The downtrending trendline in the first chart
which becomes the neckline in the second chart.
If/When nifty touches it, it would be interesting.
From here it could side-trend into it (kinda bearish) or
Ram into it (kinda bullish)