BANKBARODA Reversal [Volume Spread Analysis + Volume Profile]

Short

BK OF BARODA (NSE:BANKBARODA)

NSE:BANKBARODA BK OF BARODA

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supplyanddemand supportandresistance volumestudies swingtrading volumespreadanalysis bankbaroda

Short Bankbaroda at 51.6
SL - 54
Note:- Levels are given in cash price, short position in future and options can be taken accordingly.

Trade closed: stop reached

Comments

If the shares are bought in such high volumes then how are you taking short position , also RSI is almost near 60 which has highest possibility to stay above 60

Reply

TEJZZ

@TEJZZ, Very high volume in uptrend is a sign of weakness which is further highlighted by long Upper wick of candle - this is high volume selling pressure not buying.
RSI is momentum based indicator, it will change its path based on price movement. RSI is derived from price, not the opposite.

Reply

Hi, in the volume section why there are sudden black candles, what it means, I know green & red, but what it means of black ?