Reality Sector Index shows bullish momentum reverse divergence which could mean further upmove.it was consolidating after an earlier breakout from a rounding pattern.All timeframes have bullish momentum and trend. #dlf seems to be breaking out. godrej properties on verge of one.
An Inverted Head and Shoulders pattern broke out and retested itself inside a bigger Inverted Head and Shoulders Pattern.
The same move is expected on the bigger pattern as well.
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INDUSINDBK remains on an oversold zone on daily time frames and is starting to show some buying pressure.
There is a clear negative divergence on an hourly time frame thus indicating a bullish bias.
A Swing trade opportunity is found in SH Kelkar and co. as:
1. Price reversed from lower trend line of parallel channel.
2. Continues hidden bullish divergence is observed between price and RSI. ie, while price making higher lows, RSI makes lower lows.
Ascending triangle with lot many confirmations of the upcoming move. All the conditions have confluence one another for a perfect breakout. Good Risk to Reward. And a perfect setup like a sniper shot. The Bulls are ready so are we.
The analysis is given on the chart
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