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Positivedivergence

RSI STUDY ON APOLLO HOSPITALS 4H CHARTIn 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 and bulls are getting in charge or taking over the bears. Demand Zone/Support Zone is also nearby so, one can buy here at this levels/CMP or can wait for price the demand zone to hit the demand zone/support zone. you can also go with buy on dip strategy, buy 30% qty at current levels and buy 70% at near around demand zone (only if price falls). 4190-4125 is the demand zone/support zone. Go long with the strict stop loss of 4038 level (only on candle closing below basis), for the given target of 4677.65, 4935.35, 5199.65 levels. ENTRY :- CMP (CURRENT MARKET PRICE) OR IF YOU GET IT NEAR AROUND 4190-4125 ZONE ALSO CAN BE A GOOD PICK. STOPLOSS :- 4038 (CANDLE CLOSING BELOW BASIS) TARGET :- 4677.65, 4935.35, 5199.65 ABOVE POSITION/ENTRY IS SUGGESTED ON THE BASIS OF RSI (RELATIVE STRENGTH INDEX) STUDY. TAKE THIS STUDY AS A EDUCATION, DO YOUR ANALYSIS BEFORE TAKING/ENTERING INTO THE TRADE. THIS VIEW OF MINE IS PURELY BASED ON TECHNIAL CHART AND FOR EDUCATIONAL PURPOSE ONLY, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR PARTICULAR STOCK/SECURITY.
NSE:APOLLOHOSPLong
by Ankushkokane
Bullish Divergence in TIDE WATER OIL.Bullish divergence in the RSI indicator and good upside movement with good spike in volume can be seen in TIDE WATER OIL. Buying at current levels can be a good pick. Above horizantal lines in the chart are the targets for this trade, would suggest to book some part of your profit at every horizontal line/resistance. Can go for the target of levels 2147.30, 2280, 2599.80 and the ultimate target is of level 2780.15. timeframe for this trade could be 8-14 weeks. Go with the strict stoploss of candle closing below 1960 level. ( Those who can keep patience can go with the stoploss of 1780 level). THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART AND TECHNICAL INDICATOR, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE MARKET SENTIMENT OR ANY PARTICULAR SECURITY/STOCK/SHARE.
NSE:VEEDOLLong
by Ankushkokane
SBI - IS THE BOTTOM NEAR?SBI has fallen more than 50% three times in the last 10 years. In order to find a rationale to invest, we have analyzed SBI in different time frames. KEY OBSERVATIONS- 1. Demand Zone - A demand Zone is an area where buyers dominate over sellers, there is massive buying pressure in this zone. SBI is currently in demand zone which is around 160 to 150 levels. This level was held by SBI for the last 10 years. This level was tested during 2012, 2014, and 2016 respectively. SBI has managed to reach this level and is currently trading at 153. This demand zone can be used to our advantage as - The risk is minimal High-profit potential The risk-reward ratio is more. 2. A Fall of more than 50% - SBI had fallen more than 55% on four occasions in the last 12 years. As noticed here, a fall of more than 55% has been seen as a buying opportunity and it could be verified using trend line and demand zone. In 2010, 2014 and 2020, two things were common- There was more than 55% drop in price All these falls made a base around the demand zone, which we are currently in. 3. Bollinger Bands - Bollinger Bands consist of a centerline and 2 price channel (Bands) above and below it. The Center-line is an exponential moving average; the price channels are the standard deviations of the stock being studied. The bands will expand and contract as the price action of an issue becomes volatile (expansion) or becomes bound into a tight trading pattern ( Contraction) When stock prices touch the upper Bollinger Band, the prices are thought to be Over-Bought; conversely, when they continually touch the lower band, prices are thought to be Over-Sold, triggering a buy signal. We have analyzed SBI on a monthly Chart using Bollinger Bands. These yellow arrows indicate Over-Bought and Over-Sold levels respectively and their respective bounce when the hit these levels. Currently, SBI has ventured into the Over-Sold zone as per Bollinger Bands. 4. Positive Divergence - Divergence is when the price of an asset is moving in the opposite direction of a technical Indicator, such as an oscillator. Divergence warns that the current price trend may be weakening and in some cases may lead to the price changing direction. Positive Divergence is a situation where the price of a stock is making new lows while RSI is making higher lows in stock price. From this, we can conclude that the lower lows in the stock price are loosing their downward momentum and trend reversal may follow soon. We have marked Positive Divergence on 4 occasions using the red trend line on the daily chart, where we could notice a good price up-move after price divergence SUMMARY Observing all the above points, we can accumulate SBI in trenches and in the price range of 145 to 135. Targets can be set around 185 to 200 for Mid Term. All our views will be negated if SBI breaks 125. At these current levels, the risk is minimal and it has high-profit potential.
NSE:SBINLong
by EquityPulse
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