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.
The fall for nifty has just started, short it as soon as it breaks today's low of 11615 with a stop-loss at 11700 with a target of 10500 in the coming days ! Keep Trailing your stoploss and keep re-entering at every intraday high ! In the coming months, am seeing nifty around 10000-9500 range before starting the next phase of our bull run.
Risk:Reward = 1:13
The fall has just begun ! Short banknifty as soon as it breaks todays low of 30297 and keep a stoploss at 30409 with a target of 28500 over a few days !
Risk:Reward = 1:16
once reached our target will revise the new targets again !
In the coming months we will see Banknifty around 27500 levels.
Markets will fall in coming months, RSI is showing a clear Negative Divergence on the monthly chart. 10 yr long Bull Run needs to end before we start the next phase of our markets.
hidden bearish divergence on hourly and possible head and shoulders pattern on daily makes it an ideal shorting candidate.short once price breaks doen 50 ma on 15 min tf
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