The RSI reading indicates that the stock is at a near term resistance and could see some downside. There have been strong significant green bars and may see some correction or possibly a reversal. A correction and profit taking can be observed around levels of 199, if it breaks down further then that could indicate reversal around 178 levels.
As visible on the chart reliance is showing a bearish divergence on RSI and if it breaks the trendline it can test its 50 Day MA which is alongside the lower bollinger band.
WELENT has been rising the past week on account of its dividend issuance. The Ex-Dividend day is on 11-06-2020 i.e Thursday. Prices usually tend to correct themselves on this day. Look to SHORT below 69.6 which is just below a resistance zone. TGT1: 68.65 TGT2: 67.65 NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
in Downward Channel ......and sell on every rise.......personal target remains at 180
target 44 stop loss 35.8 or 33.7 for safer play. Disclaimer: All posts/views are for educational purpose only..!! Kindly contact financial adviser before taking position/decision.
Nifty showing a buying pressure for tomorrow's session. so it can reach the resistance level and go sideways.
NSE:BANKNIFTY my view, bearish. It can correct at least up to 0.5 to 0.61% on Fibonacci. Intraday it may go up, but eventually will come down. Supports as shown.
Aim for low of 11276 in spot for NIFTY 11-04-2019 weekly expiry with sl at 11761.
GU has been in a daily correction since August,2018. Based on EW count it has been making a flat correction and now C leg of that flat is about to be completed. Based on price action I'm still anticipating one more move UP to break previous high and then make its way down.
As we can see price has been in a very good and strong Downtrend for a while and then it started retracing, my bias and Technical Analysis says that the retracement is complete or it is about to be completed. but If retracement is completed then this time is good oppertunity to sell. TRADE WITH PROPER STOP LOSS BASED ON THE MARKET STRUCTURE!! GOOD LUCK!! TRADE SAFE
Prepare for NU BUY As described before price was retracing and now it has came around 61.8% of the original impulse, So now we'll have to prepare for the BUY. I'll looking for BUY entries around 0.6760 price level, apparently which will also complete the 5 wave structure. Good Luck
Leg b ended and now towards leg c of B.
Price has been in a very good downtrend but price can't go forever in a single direction it has to get the volatility to again proceed in the original direction. I've been looking for a short term long in this pair and this might be the time for that buy..
FACDEBOOK FINAL PHASE OF CORRECTION , MAY BE