rising wedge formed in day chart ,and adx giving negative divergence
but to confirm this we need rsi and mfi to be in over bought range currently RSI is at 60.4 & MFI at 63.1 and rising wedge need to be much closer but over all direction it is getting narrower i think in 1-2 weeks mfi and rsi will reach over bought ranges and rising wedge becomes much more narrower so stay cautious ,i think this might also indicate correction in nifty or may be results expected for bajaj con may be negative
thank you for reading this is not an trading advice ,trade at your own risk , this is purely my opinion
but to confirm this we need rsi and mfi to be in over bought range currently RSI is at 60.4 & MFI at 63.1 and rising wedge need to be much closer but over all direction it is getting narrower i think in 1-2 weeks mfi and rsi will reach over bought ranges and rising wedge becomes much more narrower so stay cautious ,i think this might also indicate correction in nifty or may be results expected for bajaj con may be negative
thank you for reading this is not an trading advice ,trade at your own risk , this is purely my opinion
Comment:
yeah see after 1-2 weeks nifty corrected and price came lower to 210 as expected ,now can exit ,bajaj con usually used to trade at 400+ but later it fell actually this stock gives very high dividend ,and this stock does not move much during normal days , but moves 10-20% by results or dividend time
Comment:
currently side ways already corrected defensive stock
it used to trade at 450-500 but due pledges of shares by investors in the past stock has corrected still has great value and now they have cleared pledges ,and they are improving their business and are about to enter into pure coconut oil after almond just like parachute
idea closed
it used to trade at 450-500 but due pledges of shares by investors in the past stock has corrected still has great value and now they have cleared pledges ,and they are improving their business and are about to enter into pure coconut oil after almond just like parachute
idea closed
Comment:
currently not sideways currenlt bearsih my mistake
Comment:
idea closed