please see the portion of days where I have highlighted with eclipse, where you can see 6 days of price movements . stock made low of 1054 and high of 1142. gain of 96 rs rupees, , now obn 6th day stock tried to make high 1025 but fell short of the mother candle 1025.5 and closed below the close of mother candle. mother candle opened lower and closed at 1117 an which is near to the high of the day, kid candle opened higher and closed near the low of the day.
How to trade?
every body says buy above the mother candle high and sell below mother candle low.
Here if it fails to move above 1138 fail to cross 1142, may go in for selling, o or if the momentum gains then it may cross the previous high and make new high if nifty moves higher.
we are seeing divergence in RSi to price action.
Possibility of correction is more than going up.
SO FAILURE of GOING above 1142 will trigger correction in the stock to fair value to invest
How to trade?
every body says buy above the mother candle high and sell below mother candle low.
Here if it fails to move above 1138 fail to cross 1142, may go in for selling, o or if the momentum gains then it may cross the previous high and make new high if nifty moves higher.
we are seeing divergence in RSi to price action.
Possibility of correction is more than going up.
SO FAILURE of GOING above 1142 will trigger correction in the stock to fair value to invest
Comment:
it is approachinng support of the box