Time-frame 4H
Pattern
Double Top with negative divergence
Today's high open same
Near to all time high which may show resistance with support of 37386.35.
On daily chart banknifty looks weak as it formed shooting Star pattern with negative divergence.
Details of SL , low of second candle and 1:1 target mentioned in the chart.
We can short when it breaks low of second candle. Just remember it's on daily chart it will take time.
One candle per day.
SGX Nifty made high of 18142.5 & then it formed a pattern called as "Bearish Engulfing.
SGX Nifty was forming higher highs with negative divergence. It formed Top 1, Top 2 , Top 3 & Top 4 with lower volumes.
Whenever any stocks or indices made higher highs with dry volume i.e. Negative divergence wait for chart pattern to form because it means that particular...
Bitcoin is looking fresh negative on monthly charts with negative rsi divergence although it is not good time to say for short because earlier i told it is negative at 280000 but yes it is weak in current setup
In this chart, RSI (Relative Strength Index) study is carried out on 4h timeframe chart with possible support zone/range and targets. Previously in chart after bearish formation, we saw sharp fall in price both the time. recently in chart, we can see the formation of Bullish/Positive divergence is visible, which suggests (not every time) the end of bear's strength...
SBILIFE was entered on21st May , since then the stock has rallied to 17.5%. Lately there has beena development of weakness in the RSI as depicted by the negatively diverging lines on price and RSI on the hourly chart. In order to safeguard the capital and protect profits, I suggest it is best to book out at this point.
NSE:SBILIFE
VEDL had a successful breakout on 29.07.21 and would have given around Rs 60 profit. Since the stock is an uptrend would it be prudent to enter now.
My thinking is since the stock has given a good profit in the push phase we should wait for a pull back to enter fresh longs.
Also we have a negative divergence. So wait and watch before committing to fresh longs.
Gravestone Doji formation at 52W high. Short if it breaks day's low that is below 883 with SL of 922 and target of 800 as per charts.
Another theory which supports this is RSI. According to RSI, technical top was formed at 799 after that it made another high of 922. Hence, to correct it, It has to come below 799.
Negative RSI divergence on the daily chart of Adani Enterprises. A good candidate for Positional Short.
Note- Strictly for educational purposes. Do your own analysis before taking the trade.
![CUMMINSIND: [Positional] Cummins India Short Idea](https://s3.tradingview.com/4/4arJ3Dhx_mid.png "[Positional] Cummins India Short Idea")
