Following is Nifty Intra Day trading System which can be used by Intra Day traders to make Profitable trades.
I call this Trading System Nifty SMA Cross Over System
System Consists of :
1. Open the Nifty Intra Charts Site — http://niftyrtcharts.blogspot.com/ . Go to 3 Chart where our Trading System is Present.
[Click on chart to Enlarge]
2. You will see the following Charts with following Averages and Indicators
10 Mins Candelstick Chart Pattern
5 Mins EMA — Green Line
20 Min EMa — Red Line
Stoch Indicator and RSI Indicator
Take Short When 5 Min EMA ie. GREEN Line crosses below 20 Min EMA Red Line Short should be Initiated.
Target is when candle touches the lower Bollinger Band as mentioned in Charts
Long Should be initiated when 5 EMA Green Line Crosses Red Line on Upside
System will be full of Whipsaw and Like it happen today System generated the Long Call but got Stop out after some time.
If Oscillators Overbought and Oversold include them also while taking your trading Descison.