Price action and the setup clearly indicates for a breakout confirmed by good volumes and RSI in momentum. Stock has just come out of its accumulation range for which a good upside potential could be seen in few upcoming sessions. A good OI build-up was seen in today's session which has a good potential to break this level.
But before that it should clearly break and sustain over its key level: 1545-50. Otherwise it could act as a good resistance since bears are eagerly waiting to short at this levels.
Wait for the right price action before entering long.
Disclaimer: Take this view only for educational purpose. Trade on your own risk. Happy trading!
HI Just want to understand what is RS Nifty line below RSI, how to get that and whats the significance. I just want to understand it will be great if you describe the same
sscguru10
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Please tell how to add rs indicator
rahuljaiswal1580
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@sscguru10, Hey you can easily find it in the public library. Study and backtest it well before taking any trades based on it. Happy trading!
trendtrader_AB
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Hi , Can you tell how to add RS Nifty Indicator on chart, or pine code if you have for the same. Thanks!
rahuljaiswal1580
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@abhijeetrkv, Hey you can easily find it in the public library. Study and backtest it well before taking any trades based on it. Happy trading!