Relative Strength Index (RSI)
Broadening top Reversal Patterm ShortThere is a possibility to trade Broadening top pattern. RSI is forming divergence also confirming weakness in the stock. Shorting now with Stop Loss just above the high made recently.
NIFTY Channel Trending with RSI divergence Good ROR setupNifty slowly drifting down is having occasionaly bear climax bars and moving down. Here, both bulls and bears not doing a great job. Bulls not have the force to pull nifty up and bears dont find excited to push it hard.
Trading in channel nifty is at the bottom of the channel and made a doji bar followed by a bear failure bar, continued by a bull body bar. so bulls and weak bears will book profit here pushing nifty to the higher trendline and good risk reward trade setup available.
SL 8055
Target 8150
CMP 8090
BIOCON still has gas left for new highsBIOCON a stock closing strong even with a choppy bearish nifty, formed postive divergence in Monthly charts showing still it has gas left for big moves.
Immediate targets on upside lies at 1028/1088/1165
Any dips towards 930/950 zone if done before target can be bought with 835 SL.
ROR not good to enter at current levels.
Double Bottom/Channel Breakout Long The stock has formed double bottom, gave breakout now retesting from above. One can enter long now with reasonable Stop loss. Pattern Target is 353.80 however there is resistance at 341.40 so let's see which one it achieves. Even for the lower target risk to reward ratio is good.
Oil India - Ready for rallyAn inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
Nifty - Time AnalysisThe rally from ~7950 to ~8950 has taken 50 bars / 75 days and the fall from ~8,950 to ~8,000 is in equal time cycle. Relative Strength Index is trading at 2016 lows suggesting reversal on cards.
I am expecting the reversal to take place either today or tomorrow.
The setup would fail if Nifty closes below 7,900. The major trend change level would be only above 8,600.
Bank Nifty @ Crucial Support Zone* Support zone
* Positive curve on RSI
* Positive Divergence on Stochastic
Classical trade using Trendline, Channel & EngulfingThe stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification
1. closed out of downtrend regression channel
2.Made an engulfing covering the previous candle completely.
3. Trend line support.
4. Mostly at this level of RSI it changes the trend.
5. Trend reversal entry on 1st bar offers a good Risk to reward ratio.
I would take entry on Tuesday and see how it works.
Divergence reversal LongIndicators are telling that price may try to reverse at this level, specially the RSI divergence when appears in oversold area. I will go long with small stop loss just some ticks below the low made today. IF it works it can give decent return so one can take chance by risking small amount. Good Luck
Divergence of MACD silent reversal signal BHARTOARTL longThe stock is in downtrend making lower lows. IT has given first reversal signal forming double bottom and also divergence at this level in MACD/RSI. One can enter the long trade now as the risk is low. How far it would go only time would tell but 325 seems quite reasonable expectation.
Has the base been formed in HUL?Its seems like a base has been formed in HUL..Double bottom along with a lower low in RSI and a bullish engulfing candlestick pattern..Stoploss 837 targets 858(first major resistance) second target 869(200 DMA) and above that 880..if results good on 26th it can move up above the 200DMA
Nifty* Rising Trendline (marked blue)
* Lower level of gap might be retested
* Can retrace by 38.20% Fib of 8,968-8,699 at 8,790
* RSI @ Brexit day low - Bounce to banta hai ;)
HOT Stock on your watchlist - IDEA Cellular The level of IDEA is very crucial here. One can buy from here and add at the level of 70 with the target of double in 2-3 months. The company is working very effectively. The financials are strong to take the company above.
Initial target of 122 can be achieved very fast.
RSI of the company is very low ie. only 18 which is good sign.
Happy trading!!
