vanathi
Long

Mighty Nifty - Budget rally is still on!

NSE:NIFTY   Nifty 50 Index
216 views
8
216 12
Nifty is showing its power from afternoon today. I posted "Mighty Nifty - Budget day special 2" as an example of bullish flag breakout. The rally continues. Nifty is buy with stoploss 8670 with targets 8740, 8765 and 8800.
Trade active: 8715 on 2/2/17
Trade closed manually: @ 8710 as bn not supporting nifty.
Comment: Why this analysis failed? RSI shows bearish divergence.
Join me in telegram to learn & earn. I also post my trades there. https://t.me/Analysis4Newbie
Yes the RSI Divergence is found , Buy you are using 15 Mints Candlestick , I Would suggest to use 1 Hour or 4 Hours Candlestick analysis for better support and resistance along with Understanding Price action
On smaller time frame it is always found people get nerves when they find this kind of things , if you use RSI for 15 Mints candle chart then Change the value of RSI go for 34 or 84 the higher RSI will indicate the momentum comparing past trend , and will give you additional details where the price is heading in relation to past and to feature , it quite impossible to identify or judge with small time frame with smaller RSI , 14 Period RSI Means 14 Candle average momentum , in this you will find the details of only 14 Candles X 15 Mints Divergence or convergence , but actual stock or script strength is different , so to understand actual stock script momentum you need higher RSI ,i.e you can use or overlap with 34 Period with 14 Period RSI , in that you will know what is the reading for past 34 and current 14 period reading and you can judge based on Price action on current value
Hope you will understand my concept
Best Regards
Shivakumar
Reply
vanathi shiv2798
@shiv2798, Thank you :)
Reply
I have taken 8900ce @41.7 shall I hold it.
Pls advise
Reply
vanathi satya21480
@satya21480, Sorry, I dont know about options.
Reply
satya21480 vanathi
@vanathi, thk u
Reply
Great analysis. Dont worry about being wrong rarely since you are spot on most of the time. Great to see update and analysis on why you were wrong which is rare.
Reply
@Parjun, Once I posted 4 ideas against main index, it went wrong, it was unable to find the mistake. I was struck up with it for more than a week. Now I am really happy to find out the mistake fast, so that I can move on. Thank you for the support :)
Reply
Back on track
Reply
vanathi jayanandha
@jayanandha, Yes...
Reply
nice nifty view.....
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out