praveen.bhatiya
Short

RSI Divergence/ 2B Reversal

NSE:BERGEPAINT   BERGER PAINTS IND
RSI is showing bearish divergence in overbought area and stock has formed 2B reversal pattern which provides an opportunity to short the stock Future at current level.
Entry 285
SL 284
Target 270 initial

Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade active

Comments

I am not able to sleep and was going through it again and looked at open interest change in Berger 17k contracts got added at put of 270 and 15 k on call of 310 in May expiry it will be interesting too see the breakout goes which way ...might take some position accordingly in momentum..
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praveen.bhatiya praveen2789
@praveen2789, Praveenji i was out of city therefore replying late. It was not moving so I've closed the trade at break even price.
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I hope you are right in this one as your previous predictions has been good. I am not invested but i looked at charts today looks bullish to me as volumes are high since past few days.
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praveen.bhatiya praveen2789
@praveen2789, Thanks for your comment. Let's see what market wants to do.
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praveen2789 praveen.bhatiya
@praveen.bhatiya, yeah !! Nice works I read lot of charts posted by you last night...
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praveen.bhatiya praveen2789
@praveen2789, Hope my little knowledge was helpful :).
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praveen2789 praveen.bhatiya
@praveen.bhatiya, yeah it was... i have started doing technical some time back the way you see shapes on graph is something I can learn. keep it up dude..
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