Here is an example of Alert Strategy which is an "Art" of looking for MACD Divergences.
Divergence is one the primary things I remain on the look out for.
Again nothing works always, so that is the caution to keep in mind.
(open image in new window to look at the details)
As an exercise for you, Try Locating positive divergence on Charts of RANBAXY. Which makes it a good purchase now that it is at 400 which is an important support level. Keep a stop loss at 390 and target 40-50 rs upmove in it.