Yes. ! Super trend.
If we know how and where to use this indicator, you are sure about getting very good trade.
It ensures
1. Low risk
2. High returns and at times real big trend
So how to use it?
1. Prefer larger time frame to avoid noise. I use weekly.
2. Once super trend is green wait for pullback towards super-trend.
3. When supertrend acts as support/resistance and price reverses from nr super trend make entry. (I would wait for break of earlier week high nr super trend)
4. SL is close below super trend. (weekly close for weekly chart)
5. Try to exit far from super-trend to book profit. (Target around 15% possible on weekly)
Opposite is true for shorting in down trend....!
All these charts are from Nifty50 stocks
Note: I am re-publishing this post as earlier post was on Nestleindia which got split and chart is not getting updated.
If we know how and where to use this indicator, you are sure about getting very good trade.
It ensures
1. Low risk
2. High returns and at times real big trend
So how to use it?
1. Prefer larger time frame to avoid noise. I use weekly.
2. Once super trend is green wait for pullback towards super-trend.
3. When supertrend acts as support/resistance and price reverses from nr super trend make entry. (I would wait for break of earlier week high nr super trend)
4. SL is close below super trend. (weekly close for weekly chart)
5. Try to exit far from super-trend to book profit. (Target around 15% possible on weekly)
Opposite is true for shorting in down trend....!
All these charts are from Nifty50 stocks
Note: I am re-publishing this post as earlier post was on Nestleindia which got split and chart is not getting updated.
