Rsi_divergence
KIRLOSKAR FERROUSThis chart is at the request of a well wisher.
The stock has been moving in channels within a bigger channel and is now hanging in near the top of the channel for quite some time with accumulation going on.
A positive divergence suggests the stock is quite ready for an up move.
NIFTY METALS - Pullback or Correction ?While many TV analysts are still pretty bullish on the steel sector due to global factors on steel, I believe we could witness a small/medium correction in the days to come although the overall picture is still very bullish.
I see long Bearish Divergence. I have broken down the major divergence into smaller blocks and as seen in the chart every time a bearish divergence was formed there was a correction.
It also happens along the top border of the Parallel Channel and this time we have reached the top yet again.
There is also a possibility where the stocks in the index keep galloping this weak which would then nullify the divergence thus breaking above the channel but chances seem a lil less, let's see.
RELIANCE | Small swing opportunity in lower time frame - 9%RELIANCE | Small swing opportunity in lower time frame
CMP : 2028
SL : 1960
Target : 2216
1:3 risk reward setup.
Pros :
Risk reward is good
W Pattern,
Taking trendline support in daily time frame.
Positive RSI divergence
Cons : It also deceiving my eyes with Head & Shoulder pattern
HDFC | RSI divergence - Good swing opportunity 15%HDFC | RSI divergence - Good swing opportunity 15%
CMP : 2495
SL : 2455
Target : 2900
Almost 1:10 risk reward setup