The MACD is an extremely popular indicator used in technical analysis. It can be used to identify aspects of a security's overall trend. Most notably these aspects are momentum, as well as trend direction and duration. What makes the MACD so informative is that it is actually the combination of two different types of indicators. First, the MACD employs two Moving Averages of varying lengths (which are lagging indicators) to identify trend direction and duration. Then, it takes the difference in values between those two Moving Averages (MACD Line) and an EMA of those Moving Averages (Signal Line) and plots that difference between the two lines as a histogram which oscillates above and below a center Zero Line. The histogram is used as a good indication of a security's momentum.
Weekly Indicators are turning from bearish and showing bullish signals. So pls refer chart .. This is not a intraday/expiry call
Vijayaraghavan.K,
Kovilpatti.
Titan 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.
Weekly flag breakout with high volume.
Target is open but acc to pattern given as height of the pole.
SL is place at the low of last candle a.k.a new support.
RIL looks weak. If it sustains 1320-30 levels then further upside. If it breaks below 1310 will take support at 1250.
Short RIL below 1310
Target 1: 1280
Target 2: 1250
Stoploss: 1325
R/R: 1:4
Regards
Ascending Triangle formation on Grasim. price may break above the support line and MACD showing bullish crossover on bullish trend.
Trade:
Buy above - 1101
Target 1 - 1112
Target 2 - 1124
Stop loss - 1188
Potential short may develop in the stock as it is making higher high but RSI is not supporting it and showing divergence. Its reading is also coming out of Overbought Zone. So far it is making Wolfe Wave. As if now trade has not developed yet but one can put it into the watch list to take the appropriate action timely.
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