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Rsi_divergence

Escorts good short candidate.Escorts spot CMP 1380 levels. Elliot wave projection :- Counter is trading around the maturity levels of impulse wave 3. if corrective wave 4 unfolds around this levels price might correct to 38.2 to 50.00% of wave 3. Chart patterns :- Double top formation Double top formation is observed on daily time frame ,, pattern breakdown confirms once the nearest support horizontal trend line is broken and sustained. on breakdown price action matters a long,, there should be large bearish bar formation with increase in volume... Rising contracting wedge formation :- price trading around the resistance line of rising wedge formation,, in past prices have respected this resistance line and fallen from this levels. RSI indicator :- Price is making higher high where as RSI is making lower high,, bearish divergence. Good short candidate..
NSE:ESCORTSShort
by RUDRA007
Nifty spot good short candidateNifty spot cmp 13000 Elliot wave study :- on weekly time frame major elliot wave impulse phase is on verge to mature,, 20 year cycle is on verge to mature,, now if corrective wave unfolds there can be price wise and time wise correction on index.. Wave 1 is of around 5510 points ,, wave 3 is or around 10175 points which is longest and strongest wave of impulse phase and perfectly 2 time of wave 1,, wave 5 is of around 5600 points almost same as wave 1..wave 2 have corrected around 78.6% of wave 1 which is perfect retracement as per elliot wave theory.. wave 4 have retraced around 50% of wave 3 which is also as per theory.. RSI divergence :- Price is consistently making higher high from the peaks of wave 3 to wave 5,,where is RSI making Lower high high bearish divergence,, historicaly most of time it is observed that when there is bearish divergence and RSI touch 70 levels it tends to fall.. at the moment RSI is almost at 70 levels. Chart pattern :- Rising channel formation structure can be seen in whole impulse phase,, where Support and resistance line are well respected through the cycle.. at the moment index is trading around the resistance line of the rising channel pattern,,and overbought as per concept of price action..
NSE:NIFTYShort
by RUDRA007
10
Nifty spot good short candidateNifty Spot CMP 13000 Elliot wave Study :- Impulse phase is on verge to mature, and if Corrective phase unfold for this whole impulse swing we might see some retracement in coming 1-3 month ,, price wise which can be 0.236% to 0.50% of this whole swing.. more details mentioned on chart.. RSI Divergence :- In last wave of impulse phase , price is making higher high where RSI is making lower high,, Bearish divergence ,, indicated soon the wave is on verge to mature.. Trend line :- At the moment index is trading around Major resistance line which is respected for the whole swing. Chart Pattern :- In last wave of this impulse phase , rising parallel channel formation and rounding top formation are seen,, details on chart..
NSE:NIFTYShort
by RUDRA007
18
CNX FINANCIAL good short candidateCNX Financial Spot CMP 14200 Bearish Bat Pattern Formation PRZ range 13950-14150 SLZ zone 14750 Down side 12500-12000-11500 possible. Any reversal below PRZ zone that is below 13950 would confirm reversal,, Index can see good retracement below this levels once pattern reversal confirms. RSI Divergence :- Price making higher high, RSI making lower high,, Bearish divergence, RSI overbought .. Eliot wave :- 3rd Impulse wave of Impulse phase is on verge to mature,, wave 3 have extended around 2% of wave 1.. as per theory wave 3 can be around 1.618,,2,,2.618 % of wave 1,, If Corrective wave 4 unfolds from this levels we can see retracement of 0.236 to 0.382% of wave 3.. Price wise which can be around 12500 to 12000 levels.
NSE:CNXFINANCEShort
by RUDRA007
Nifty pvt bank good short candidateNifty PVT Bank spot CMP 16220. Bearish BAT pattern formation. PRZ in range 16600 to 16950 SLZ zone above 18050 Down side 14500 - 13500 - 12500 possible. 0.886 XA retracement completion around 16950 Equivalent AB =CD pattern completion around 16600 2% BC extension around 16640 levels.. RSI divergence :- Price making higher high, RSI making lower high, Bearish Divergence. RSI overbought ,,if breaks below 80 levels and prices reverses from PRZ zone good retracement can be seen in Index.. Price trading above rising trendline indicate overbought as per price action..
NSE:NIFTYPVTBANKShort
by RUDRA007
Hindalco good short candidate.Hindalco spot CMP 214 Elliot Wave Study :- Counter is trading in 5th impulse wave of impulse phase,, soon corrective phase might unfold and price might see good retracement of current up trend. Chart Pattern :- Rising channel pattern, counter is trading around resistance line of rising channel pattern.. prices may face resistance around this levels . RSI divergence :- price is making higher high from peak of wave 3 to peak of wave 5,,while RSI is making lower high.. Bearish Divergence.. Resistance and Support :- Around 220 levels counter have faced resistance multiple time,, at the moment counter is trading around 220 levels,, Good short candidate..
NSE:HINDALCOShort
by RUDRA007