Nifty daily chart showing divergence. go long
RSI and MACD divergence is visible on Nifty daily chart Does it mean there is trend reversal ? Any other technical indicator supporting this?
There is a possibility to trade Broadening top pattern. RSI is forming divergence also confirming weakness in the stock. Shorting now with Stop Loss just above the high made recently.
Nifty slowly drifting down is having occasionaly bear climax bars and moving down. Here, both bulls and bears not doing a great job. Bulls not have the force to pull nifty up and bears dont find excited to push it hard. Trading in channel nifty is at the bottom of the channel and made a doji bar followed by a bear failure bar, continued by a bull body bar. so...
As indicated on CCI a bullish divergence is seen on NZDUSD pair on the daily chart. We can buy this as per the indicated limits.
BIOCON a stock closing strong even with a choppy bearish nifty, formed postive divergence in Monthly charts showing still it has gas left for big moves. Immediate targets on upside lies at 1028/1088/1165 Any dips towards 930/950 zone if done before target can be bought with 835 SL. ROR not good to enter at current levels.
Probability of a short term reversal with the following reasons 1. regression channel breakout 2. divergence 3. 3 outside out candlestick reversal pattern One can buy at dips for a target of 470.
This i saw for current dates and its continuing from mid july.
The stock is in oversold zone making divergence also getting support from the trend line. Possible long at this level on hourly chart that means it has to be continued overnight to reach the target. A good point to enter long with small stop loss.
The stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.