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Divergence

Mentorship InstaView 17 Aug’21: Googly 
Nifty View: Seventh consecutive positive daily close from the benchmark Nifty with today’s 40 points up move. Yesterday's “Shooting Star” pattern in the intra-day charts played out at the first half of today’s trade followed by a high-momentum bounce back and we are now back to yet another new life-high. Now, it's these kinds of days that start to create price-momentum divergences. Because price corrects relatively slower compared to the following rally. However these divergences do not necessarily lead to reversals, they are signs of exhaustion which only the price behaviour confirms. At the current juncture, today’s low of 16,483, plays the role of short term supports, which essentially means that the index has to break and stay below 16,500 for any significant follow-through weakness. Till then, maintain a bullish bias and look for long trades only. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
1
JM Financial Bullish BiasWeekly TF looks like its retesting the breakout levels taking support at 21 Day EMA Retesting happening at lower volume levels Offering great entry set up for swing long position On Daily TF the stock has some great volume build up and looks like its poised for an upmove from here And erstwhile resistance zone is acting as Support zone for the stock Pullbacks has happened at a very lower volumes We are also able to see Divergence on the Daily TF where Price is moving Higher High whereas RSI is making a lower low With all the confluence we observe that the stock is bullish in nature and giving a great entry set up with a Stop loss of 87/86s levels we should aim for Swing Target 1of 120s levels
NSE:JMFINANCILLong
by Harshil_g
Mentorship InstaView 05 Aug’21: Time to Slow Down 
Nifty View: Optimism continues as the benchmark Nifty extends the recent breakout with another positive session in today’s trade. So far this week, the index has gained over 520 points or 3.3%. And not only has it broken out to a new life-high, but it has also managed to do that with ease and held well without slipping down. Now at today’s close, a look at the intra-day charts do suggest some price-momentum divergence. Do not misunderstand these divergences as a sign of trend reversal. These reversals can also lead to price consolidation. Short term level to watch for is the range of (16,150-16,200), wherein we have a rising gap. Expect the underlying trend and momentum to continue and so short term traders should look to buy on dips. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
1