Price has been in a very good downtrend but price can't go forever in a single direction it has to get the volatility to again proceed in the original direction.
I've been looking for a short term long in this pair and this might be the time for that buy..
I've been looking for short move since 2nd week of the September. As shown in chart price is showing sell sign by divergence On RSI and MACD both.
When price move forward in our forecasting direction then Move SL past the entry. If it's not the move down then we again look for the sell opportunities.
Bullish bat is formed. Major support at 481/90 level. This should be the reversing zone. Going long at this point can give you sweet points. Overall, trend is following pitchfork, expecting for breakout. Details in the chart. Keep supporting :)
Bank Nifty has formed a Wolfe Wave therefore one can watch the price movement and enter long. Since the index is in downtrend and is at a very good support level breaking it could drag the price further low so it is advisable to trade it with caution and stop loss.
Indicators are telling that price may try to reverse at this level, specially the RSI divergence when appears in oversold area. I will go long with small stop loss just some ticks below the low made today. IF it works it can give decent return so one can take chance by risking small amount. Good Luck
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.