Here I will apply something known as Average Directional Index (ADX).
As we know, the ADX line indicates the strength of underlying trend, be it upwards or downwards. It is composed of two other lines, +DI(green) and the -DI(red) line.
It indicates, how strong or weak the buyers or sellers are.
Few traders use this to understand the reversal of...
I bought 1000 PNB today at 111.6.... playing for the bounce from its support of 111-112 which is also its 52 week low .....with small stoploss of 108.6...
as per news it may look risky , but as per chart it is a good trade as per risk reward.
even if it reaches 117.6 ... R:R will be 1:2 ..and as per chart odds are with me ;)