Oscillators are popular and widely used because they are leading indicators that can signal a possible trend change that is yet to start. This type of indicator oscillates between two limits, above and below a midpoint and its value helps to gauge the strength and momentum of a trend. Oscillators also typically signal if a market is overbought or oversold (meaning price is unjustifiably high or unjustifiably low), which could point to a reversal of the trend. This could be used to determine when to close open positions.
Oscillators work best in ranging markets because in trending markets they can show overbought or oversold conditions too soon. Common things to look for are a midpoint cross, approaching maximum or minimum value and regular or hidden divergence. Oscillators are usually plotted with a line or histogram. There are many oscillators such as the Relative Strength Index, the Stochastic Oscillator, the True Strength Index and the Ultimate Oscillator.
Moving In Upward Channel.
Respected Resistance Line Of Channel & Fallen.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Sell Tatacomm on rise with SL of 625 and target of 565. A confirmation on RSI has been obtained. A convergence on MACD is on the cards. One can book profits on long positions.
Sell ULTRATECH CEMENT on rise with SL of 4190 and targets of 3819. A confirmation obtained on RSI and a convergence on MACD on the cards that will eventually lead to a downward move. One can book profits on their longs.
RSI is in overbought zone and trying to cross 70
This is also supported by MACD crossover
It has resistance at 620, sell if it crosses below 600 for target of
TGT 1 - 580
TGT 2 - 550
SL - 635
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