EMA full form is *Exponential moving average*. you can google this for detailed explaination and formula. I use 30 week EMA for my stoploss that means, the length chosen is last 30 week on weekly timeframe. if you are using daily timeframe you can use 150 Day EMA (as 5 working days for week * 3o weeks). NOTE- The length choosen is not an fix and not compulsory...
Nifty chart for reference
NSE:NIFTY from the year 2000 to 2020. High made in 2000 next in 2008 and the same is being tested in 2020. With a major difference being those were peak of a bull run. will this be the peak as well? RSI was too high even on monthly charts in 2000 and 2008. In 2020 its not there yet. Infact RSI also seems to show positive signs.
Last time i gave 1h Timeframe. It broken the sl and went higher.This time i came up with 4h time frame.No indicator used.just support and resistance and trendline. Education purpose only.you can take trade if you think it is sell.good luck all.
The daily time frame is giving a breakout signal today, the weekly time frame will confirm it above 1550 (closing basis ). In that case the most laggard among all sectors will turn out to be a top out performer for moves towards 1900 and then 2300 . Short term support at 1450/1375 . Watch out for this sector is coming out of a v long bear phase screaming Apna...
APOLLO TYRE - TRADE OUTSIDE THE RANGE
Tata Steel after a stunning run up is cooling off targets shown in chart
Icici has formed a triangle type pattern which can give breakout today . Buy above 513 with target of 524 and 530 Sell below 507 with target of 494
HINDALCO IS IN ACCUMULATION FOR POSSIBLE UP OR DOWN MOVE VOLUMES ARE VISIBLE IN A CERTAIN RANGE (MARKED) TRADE ONLY AFTER BREAK AND PULL BACK
TATA MOTORS - IN CONSOLIDATION PHASE
Dr reddy recently broke the trendline , retested it , and now formed a triangle type pattern , retraced 0.618 and going upward . Can go for long if breaks the triangle pattern.