Kotak Bank Analysis (2H Chart)
Trend: Price is still in an overall uptrend and has taken support exactly on the rising trendline. The recent fall looks like a normal pullback inside a falling wedge.
Volumes: Volumes were low during the fall, which shows sellers were weak. The latest green candle has slightly higher volume, showing buyers are coming back.
Divergence: RSI has formed a bullish divergence. Price made lower lows but RSI made higher lows. This signals a possible trend reversal on the upside.
RSI: RSI is near 58, which is a healthy zone. Momentum is improving and there is room for the price to move higher.
ADX: ADX is around 38, which means the stock is still in a trending phase. If the price breaks out from the wedge, the trend may continue.
Overall View: The chart is showing early signs of a bullish move from trendline support with divergence and improving momentum.
Trend: Price is still in an overall uptrend and has taken support exactly on the rising trendline. The recent fall looks like a normal pullback inside a falling wedge.
Volumes: Volumes were low during the fall, which shows sellers were weak. The latest green candle has slightly higher volume, showing buyers are coming back.
Divergence: RSI has formed a bullish divergence. Price made lower lows but RSI made higher lows. This signals a possible trend reversal on the upside.
RSI: RSI is near 58, which is a healthy zone. Momentum is improving and there is room for the price to move higher.
ADX: ADX is around 38, which means the stock is still in a trending phase. If the price breaks out from the wedge, the trend may continue.
Overall View: The chart is showing early signs of a bullish move from trendline support with divergence and improving momentum.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.