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Divergence

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.
BITSTAMP:BTCUSDEducation
by k314
3
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
NSE:NIFTYEducation
by Bravetotrade
2
Banknifty – Trendline broken Banknifty has been very weak since past 2 months and Friday’s fall suggests the weakness might extend further. I can see RSI divergence on weekly chart and also breaking of the long term trendline. We might have a pullback but so long as 26400 levels are not broken, it can retest or break Friday’s lows in coming weeks. Good shorting opportunity for a first target around 25000 levels. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:BANKNIFTYShort
by nano6yogesh
1
IndusInd bank - Topped out ?IndusInd bank made a lifetime high around 2040 on August 3, 2018. However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path. I can see that the stock got rejected at its long term trendline resistance and is slowly moving down. Good opportunity to go short with a stop loss of 2050 and successive targets of 1950 and 1900. Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
NSE:INDUSINDBKShort
by nano6yogesh
SHORT TERM TRADING VIEW ON RELIANCE INDUSTRIES LIMITEDReliance Industries Ltd currently trading at 1203.75 spot as on 17th Aug 2018. After reaching its 52 week high at 1231.7 on 9th Aug 2018, The stock made a possible pullback (low at 1182.7) and currently trying to break on upside. Price is making higher lows considering the previous rise (from 1112.5 to 1231.7) followed by pullback (1231.7 to 1182.7) and currently trading at 1203.75, trying to break upside which is clearly a bullish signal. (Check trend line, and other markings on price chart). While we also see the hidden bullish divergences on RSI and MACD. Also Volume figure shows clear divergence likely to break on upper side. The same has been illustrated in the chart using trend lines. Considering all the points, probability to break on upside is more. Accumulation can be done between 1185 to 1200 levels.We are expecting a targets of 1230 first. If it breaks that, 1250/1260 is quite probable to reach in short term. While its all about the probability, stop-loss shall be maintained if the price moves below 1180 levels. Keep trailing your stop-loss once in profit. Please note that all the levels provided here are as per cash levels. Please note that views shared here are personal and for educational purpose. Please consult your own financial adviser before taking any trade. Happy trading!
NSE:RELIANCELong
by anis2407