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Rsi_divergence

Nifty spot good short candidateNifty spot cmp 15400 Elliot wave study :- Impulse phase is on verge to mature,, wave 1 is smallest wave of 1235 points, 12% wave 2 is retracement wave ,,have retraced around 0.382% of wave 1 wave 3 is strongest and longest wave of 3175 points,28% wave 4 is retracement wave,, have retraced around 0.382% of wave 3 wave 5 is smaller than wave 3 and bigger than wave 1 ,, 1825 points,, 14% Rising channel structure formation is seen,, at the moment index is trading around resistance of supply line of channel,, RSI is making bearish divergence, where price is making higher high from peak of wave 3 to peak of wave 5 and RSI is making lower high.. Wait for reversal confirmation by price action on hourly or daily time fame and can go short for 10-15 % downside from this levels... retest of budget day is also possible and below that if sustain retest of previous life time high around 12400 is also possible,, Good short candidate
NSE:NIFTYShort
by RUDRA007
1
KTKBANK - Despite big fall showing recovery with momentumPositional analyze for Short term holding (may take some quarters) Weekly time frame for the last 8 months price was making Lower low, after big fall now RSI Bullish divergence occurring. High probability the price will goto its previous level of Rs.70/- CMP : 43.25 Any dip / fall is an opportunity for accumulation until 34/- SL : 30 Target : 70, 88 If you switch to DAILY time frame you will see Inverted Head & Shoulder pattern in forming which is another confirmation and high probability setup. They provide Rs. 3.50 dividend on average at this price range, it is almost 7% yield per annum and stock is available at 0.25 Price to Book. Due to pressure on the financial sector the stock might be struggling to shoot up. Still it is a good opportunity for us. I'm hoping the stock will continue to attract the investors shortly.
NSE:KTKBANKLong
by srikartiram
8