BANK NIFTY !!! BEARISH DIVERGENCEBEARISH DIVERGENCE FORMED IN BANK NIFTY. SHORT TERM TREND WILL GET BEARISH.
Divergence
Hourly good Risk to Reward setupPrice actions are captured by an up sloping PF with multiple touches on LML so one can try a trade on this setup. It is a strong demand Zone also and now coming out of RSI oversold confirming a good possibility of reaching the target.
Entry current Price
SL 340
Target 352.50
Risk/Reward Ratio above 3
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Double Bottom : Good Risk to Reward TradeAshok Leyland has formed double bottom and showing signs of reversal. It has a reasonable PF catching the price frequencies and is available on the LML offering a good entry. It has formed a double bottom with divergence on MACD which is quite reliable setup. Heiken Ashi has turned to Green also. One can buy the stock with the following details
Entry current Price 79,50
SL 77.4
Target 86.25
Risk/Reward Ratio above 3.21
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Hidden Bullish Divergence And RSI Heavily OvesoldTrade Time Frame 4-5 Day's
Entry @216, 217, Stop @209, Target @245
Hidden Bullish DivergenceThis can be seen when the pair is in a uptrend. Once price makes a higher low (HL), look the oscillator does the same. If it doesn't and makes a lower low (LL), then we've got some hidden divergence in our hands. The normally occurs at the end of bearish trend.
BankNifty Bearish ViewBankNifty after a long rally from 24244 levels to 27754 looking week at higher levels. It has broken the trendline and showing bearish divergence/crossover as per stochastics and MACD on daily charts. Considering the risk reward ratio its a perfect juncture to remain on short side in BankNifty (sell on rise). Obviously hedge your positions to safeguard your portfolio. I would recommend to create a covered put which can be rolled up or averaged if it moves up higher which seems unlikely. Maximum banking heavyweights are trading near their highs and showing weakness too. Today BNF may see some retracement and technical pullback. Aggressive traders may employ the covered put if they see BNF at higher levels.
Short NiftyTentative Bearish divergence of Stochastic indicator giving a hint of selling the N . Aim for 10750.
NZDUSD LONG!!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
Colpal formed bearish divergence near ResistanceCOLPAL TRADING NEAR RESISTANCE AND FORMED BEARISH DIVERGENCE.
SHORT WITH BELOW FIBOO LEVEL TGTS
SHORT : Victor Sperandeo 2B Reversal Pattern RSI DivergencePrice formation suggests a short as recommended by Victor Sperandeo in his 2B Pattern. Price closed above the previous high yesterday with good volume but got rejected immediately and closed below to low of yesterday. One can short the stock with reasonable stop loss. Risking the small amount gives an opportunity for a decent Risk to Reward ratio trade. RSI divergence is one more confirmation for the trade.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
3 Drive on Top/RSI Divergence The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Maruti Double Bottom + Bullish Divergence2 Reasons Stock can go up is Double Bottom and Bullish Divergence. Buy at your own risk.
We Saw some Buying Power today Which may Continue a little bit. Have small targets in mind.
Balkrishna INDS Poised for a BounceThere is a Bullish RSI Divergence and MacD Divergence on Daily Chart.
Stock is poised for positive movements for this week.
3 Support zones in the chart if setup fails to work.
Titan Bearish Divergence on 4h ChartTitan Chart shows Bearish Divergence on RSI, Stoch RSI and Momentum too.
A pull Back is possible but overall Stock looks bullish for longer term.
Bearish Divergence + Price approaching Resistance may bring the Price Down.
If setup fails and breaks 910, Wait and buy the retest of 900 areas in next couple of days.
Sunday quiz : Divergence QUIZIs this a bearish divergence or a hidden bullish divergence?
Please leave your response with a valid reason.
I wont be answering this question as I want you to do your research and find the answer for yourself and in the process of finding the answer I am sure you will get to learn a lot about divergence. I have seen a lot of posts and personal messages on TradingView claiming one or the other form of divergence to fit their pre-conceived bias/analysis without any basic understanding of the concept of divergence.
I would request you to form an opinion based on what the chart says and not find (misleading) evidence or signals to fit your opinion.
Nifty: Do I Rely Upon Indicators?For me, an indicator is a tool that provides me a message how the market 'may' behave in future. Which not at all means that the market 'will' behave as has been indicated. Almost all successful traders will agree with me if I say that there are no 'Red' and 'Green' signals in the market.
For example in the current market scenario, the index has been drifting down in an oversold environment. Oversold here means that most of the popular indicators like RSI, Stochastic etc. have been signalling that the market is deeply oversold and there 'should be' a bounce-back/pullback.
Also trust me when I say that the market may wriggle its way down to nearing supports when the indicators are not just signalling 'oversold' conditions but also showing 'divergence'. You can see the Price-RSI behavior mismatch as the market has been making new lows but the RSI is making higher lows. The markets can do this multiple times for weeks and even for months in some cases.
So the indicators are telling me only that bears are getting weaker. But there is no sign of strength on the upside as of now.
So what to expect in the coming days?
Well !! the picture would be more clear after Monday opening. As of now I can say that it should take some support from 9950-10050 zone as its an important structure support. I can't say as of now if it would be the end of bear phase or not. But in case of pullback it should try to atleast retest the trendline which was broken decisively last week.
As per my previous analysis on the index, my instincts have been indicating further weakness after brief pullbacks in the coming days.
Below 9950 we have no important support before 9700, and that's 250 points which is a substantial cut and should be kept under notice.
Previous post:
Hope this analysis would help some traders in making better decisions.
Regards
Dmart Bullish DivergenceDmart 1D chart Shows Bullish Divergence. nice buying opportunity between 1100-1140. Bounce may yield 10% from here
Jklakshmi Cement Preparing for small BounceStock is sitting on Trendline and Horizontal support. RSI shows Bullish divergence and should bounce from here. Bullish Short term.
Start of the next IMPULSE!!!!Hello everyone,
I've been looking for short move since 2nd week of the September. As shown in chart price is showing sell sign by divergence On RSI and MACD both.
When price move forward in our forecasting direction then Move SL past the entry. If it's not the move down then we again look for the sell opportunities.
