kuru_bhisma

DR.REDDY is ready for a breakout...

Long
BSE:DRREDDY   DR.REDDYS LABORATORIES LTD
Heavy volumes are seen and you can clearly see a DIVERGENCE in RSI .
might see dip tomorrow.
but i feel as the market is up no one is going to take a risk & its a breakout tomorrow
if breaks its 1st target is going to be 4780.
buy a call in the price and Relax. and of course put a stoploss.
All the best ;)

Comments

Trendline*
+1 Reply
kuru_bhisma DalalStreetTrader
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We can use rsi for trandline?
+1 Reply
kuru_bhisma DalalStreetTrader
@DalalStreetTrader,
not for trendline . i am just showing the divergence . RSI increasing in daily time frame but the price has not increased as par.
its DIVERGENCE.

e.g.
if you look at banknifty chart today. its showing a negative divergence. means price is increasing but RSI decreasing. possible chance of banknifty falling tomorrow.
if nifty showed even a slight weakness, BANKnifty will fall
Reply
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