higher high in price and lower high in rsi lower low in rsi and not in price indicating weakness going forward this the most technically bearish stock in nifty as of now
my first targets near 500 targets will update later
Today's dowmove was commendable but what would you say on current 3% spike in DOW JONES? Also, can you share your view on "Indus Towers"?
Tradegainer
⋅
@worldlyDingo10715, i do think US markets are trying to find a bottom but they are not in a hurry CAUTIOUS VIEW ON US markets as i don't know what is the ground reality of their economy for indus tower i will post my chart on it but there are two fundamental problems in indus tower firstly there is share pledging. and second the voda idea group is not making their payments to industowers. there is no third problem in indus tower
worldlyDingo10715
⋅
Thanks for being humble in sharing your honest replies. Appreciate it.
worldlyDingo10715
⋅
What's your view on SBIN after today's breakout above 530? Do you think it should fall from its resistance at 540? What targets do you expect in this month's expiry?
Tradegainer
⋅
@worldlyDingo10715, i dont think much has changed as my view is positional and for swing trade and usually price fall happens more quick than price moving upwards it can lose a weeks gain in just 1/2 trading sessions my view has not changed at all for monthly expiry targets one should check the option chain as i am positional my view will change if sbin trades above 542 for 3/4 days i hope u get my view thanks
Tradegainer
⋅
@worldlyDingo10715, see the rsi is still negative and there is a lot of resistance and selling pressure above 542
worldlyDingo10715
⋅
RSI on daily charts is 48 as of today. Are you referring to MACD red line because its showing in negative?
Tradegainer
⋅
@worldlyDingo10715, 48 rsi is not bullish for me above 60 rsi in daily time frame gives good price moves it can reverse any time
Tradegainer
⋅
@worldlyDingo10715, in my view it is a correction move of a decline phase so it can reverse from anywhere if price changes my view i will change my view