The stock has rallied almost 33% in the last 2 months, there needs to be a correction or consolidation phase. One needs to be cautious not to enter long at this point as technical indicators suggest a short set up.
1. RSI negative divergence - The price is increasing at a very fast pace but the strength index is not following the path as indicated in the chart....
Amber enterprises showed a breakout yesterday and many buyers entered here because of the breakout
But do you know it's a false breakout?
yellow-both acting as support and resistance.
Guys please first like and comment...
DIXON has run up from 2990 to 6666 i.e. 123% in merely 4 months.
So there is no denial in the power this stock has to run further. Targets and time frame cannot be predetermined so the best thing to do in such a situation is buy in SIP and always ride the stock with a trailing Stop Loss.
I see a buying opportunity between 6150 and 6300. However if the price...
Prices are consolidating, the momentum is not picking up. Any failure to push above the current levels will render the stock into a correction which may push it towards the next support zone at 320 levels.
RSI has entered into an overbought zone. The emerging chart pattern on the other hand is bullish flag pattern which is a bullish continuation pattern. However, overbought RSI contradicts any upward move as the stocks is overbought. What price target one can therefore consider?
Reliance Industries which in the past 3-4 days has increase by 3-4 % continuously due to its excellent quarterly results. But the security is overbought in the market. Stock price has crossed the upper risk band, volume oscillator is decreasing and RSI has gone in the overbought zone. Last but not the least stock has given a doji candlestick on last trading day....
This is daily chart of BEML on NSE (INDIA) with CMP @ 700.45. It seems to be a good shorting opportunity based on following observations:
1. It is downtrend and price is still trading below SMA200/SMA100.
2. A trendline drawn on the chart shows resistances where price rejections are shown by arrow. Now again, price has tested this trendline and also SMA100 and...
SHORT SWING TRADE IN RELIANCE
NOTE:TYRING TO CATCH PROFIT BOOKING AND
1320 WAS A STRONG RESISTANCE BEFORE SPILT
RISK CAUTION I AM FULL TIME TRADER AND RISK TAKER
THIS TRADE IS NOT TO DETERMINE THE TREND
SHORTING RELIANCE DUE TO RSI TOUCHING 80 LEVELS
ON DAILY AND WEEKLY CHART