Nifty MA Sys Trades 30 Nov

The index selloff for the first half did not generated the sell signal as the Hourly MA did not turned red. That was a good signal to not leverage short.

Nifty then moved above the Larger MA and ultimately above the 34 hour MA. This gave a buy signal and then the both the MA turned into buy mode.

Since the index is still in short mode in higher time frames it was best to close above the 5900 mark and then wait for tomorrow's action.
If the index stays above the 5880 levels then this shows that there can be upside to 5950 (38% retracement level) or 6010 (50% retracement level.)

Nifty trading 30 Nov

Nifty futures were quite volatile today with index giving both sell and buy signals.

First trade was of short at 5800 as the index got sold off from the 5 DMA.
The index is in sell mode for some time but the selloff is at the extreme as the daily rsi is in oversold levels for  bull phase.

The second trade was the buy when the index moved above the sell signal candle and ultimately above the 5 DMA. The signal was expected as the hourly major trend was bullish.

The buy should be closed at the end of day as Nifty failed to give a proper buy signal in my system.

Attached is the color of Nifty hourly charts.