The pair has been moving in a falling channel pattern from the past three months. Yesterday, the pair tested the 1.08230 support level for the third time and again took a bounce, ending the day with a long bullish candle and creating a morning star pattern. Moreover, the upliftment in the pair was supported by the divergence between the prices and the RSI...
Dmart form Bearish RSI Divergences on Daily Chart.
Bearish View on stock till 200 sma :
1) D'Mart has faced resistance at zone of 1510 -1530 & downtrend started
2) Dmart form Bearish RSI Divergences on Daily Chart - RSI making low high & price making higher high.. See the chart for visual details
3) RSI taken support at 50 level many times , if rsi...
Looking at the current market scenario anyone would initiate a short position.
But, there are some levels and certain candle formations which gives us a clear picture of the next move.
If this stock falls with the current market scenario we may witness 1530 to 1550 levels in this counter.
This is a simple example of bearish divergence on RSI.
One can see the price...
I have observed that there is a divergence in the RSI oversold area and today's Bullish Engulfing could offer a good trade with small risk. One can trade the stock as under
Entry current Price 425
Risk/Reward Ratio 4.4
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.