Nifty Intraday Update-I

Nifty PreMarket View

Above 5240(50Dma), bounce possible to 5276(Pivot), 5303(34DEma), 5328(5DEma)
Below 5245(WLEma), fall to 5180(Wk.S2); 5170(200Dma) & more.
Sell on rises continues.
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Reader's experience:
I am trading the Camrilla levels for more than a year now and have made some rules and
thought I will share it with you. Please find below the rules:
Scenario 1
Open price is between H3 and L3
For Long
Wait for the price to go below L3 and then when it moves back above L3, buy.
Stoploss will be when price moves below L4. Target1 - H3, Target2 - H4, Target3 - H5
For Short Sell
Wait for the price to go above H3 and then when the price moves back below H3, sell.
Stoploss will be when price moves above H4. Target1 - L3, Target2 - L4, Target3- L5
Scenario 2
Open price is between H3 and H4
For Long
When price moves above H4, buy. Stoploss when price goes below H3.
Target - 0.5% to 1%
For Short Sell
When the price goes below H3, sell. Stopless when prices moves above H4.
Target1 - L3, Target2 - L4, Target3- L5
Scenario 3
Open price is between L3 and L4
For Long
When price moves above L3, buy. Stoploss when price moves below L4.
Target1 - H3, Target2 - H4, Target3 - H5
For Short Sell
When the price goes below L4, sell. Stoploss when price moves above L3.
Target - 0.5% to 1%
Scenario 4
Open price is outside the H4 and L4
Wait for the prices to come in range and trade accordingly.

Nifty PreMarket View

5356 & 5374-Day & Week pivots are resistances.

Staying below 5340, more lows...5279-LL3,5250WLEma or even 5220+-50Dma.
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From a reader: This mail is again to reiterate the fact that your suggestion of trades based on the camarilla study is partly not right. I would request you to personally observe the system for few days or at least do a back test to understand how the price reacts when it reaches H3 or L3. Price won’t clear these levels with ease but mostly get resisted or supported respectively at H3 and L3 (makes a whipsaw by just 1-5 points). As stated by you, If a buy is taken at H3, it’ll mostly come to L3 to hit SL and if you sell at L3, it’ll mostly hit the H3 i.e stop loss.
Right way of trading camarilla is,
Sell at H3 – SL H4
Buy at L3 – SL L4

Sell at L4 – SL L3
Buy at H4 – SL H3

Most of the Indian website/blog/forum write-ups about camarilla are not clearly written or not perceived it rightly. I have read one write up written by Saurabh gandhi which is precise as he has written it with his personal experience.

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Readers who received "Saurabh Gandhi's write up" through Dinesh Rishi in the JustNifty group may read it well and take the right decisions.

Nifty PreMarket View

Resistances around 5402(80%) & 5428 above which is 5459.
"5295"-filtered JNSAR, 34Hr Sma & 50% of 5171-5420 rise is the support.
Time permitting, we must explore "Camarilla trading" under the expert guidance of "Sujatha" and Code buster, "Dinesh Rishi".
I happened to watch its performance yesterday...After the gap up,when it broke 5385, the short trade was quite gainful.