Bearish Divergence Spotted !!! Nifty is making Higher high whereas on RSI it is making Lower High.....seems like nifty will drop further in near term
Fake Double bottom for NCC and RSI Bullish Divergence BUY NCC @ 52.30 TGT1: 55.10 TGT2: 57.90 SL: 49.55
The stock is taking its time out at the 60 levels on RSI. After a unstoppable rally from August it has moved sideways and have consolidated. As of now he prices are resting on KS/TS support line, if a breakout is not registered within a session or two then some serious momentum loss may be grip up thereby pushing the stock into some sharp corrections.
TATAELXSI Sell @ 843.75 fake double top formation with weak RSI and Bearish Divergence TGT1: 808.85 TGT2: 773 SL: 880
One can sell INFY if it crosses below 713.65 for TGT1: 705.05, TGT2: 696.45 with SL: 723 also RSI Looks weak because there is Bearish Divergence
BRITANNIA INDUSTRIES: The stock is hovering around a very strong support zone. The RSI bouncing off from 40’s further indicate the momentum support in the stock. MACD is neutral and picking up (though not positive yet). A minor bottle neck is placed at 3130 – 3145 levels, above which 3280 &3360 may be evident.
PLEASE NOTE:- THIS IS A VIEW ON NIFTY INDEX NOT A SUGGESTED TRADE SINCE I DON'T TRADE WITH MONTHLY POSITIONS !!CAUTION!! IN NIFTY INDEX -AS WE SEE THERE IS A CLEAR DIVERGENCE IN NIFTY INDEX ON MONTHLY CHART -MOMENTUM INDICATORS ARE LOSING MOMENTUM -CLEAR "DIVERGENCE" IS VISIBLE ON THE INDEX MONTHLY CHART -WE HAVE CLEARLY HIT RESISTANCE ON WEEKLY CHART...
PVR: The stock is in uptrend trading above the kumos. Now at an important pivot the stock ha managed to form a bullish candle. The RSI retraced and took support near the 40 levels which serve as bullish momentum support zones. The MACD is almost into a neutral zone. A channel breakout from the levels may re assert bulls in the stock & PVR may move up further in...
HEROMOTOCORP: The stock has been into tight sideways consolidation since few week. The whole auto sector picked up, leaving behind hero motocorp. In todays session the price broke away from the kumo. Even on the weekly charts the price is below the kumo. RSI is into 60 – 40 zones, displaying no signs of strength as of now. To establish strength Heromotorcop needs...
BHEL: After a former failure breakout attempt from the clouds, today’s session made an reattempt to breakout. The RSI is into a bullish zone and also managed to form a PR on the daily charts just near 60, indicating strength. The TK is pointing up with MACD above zero indicating bullish strength in the move. As long as the stock stays above 50 the trend up can be...
PIDILITE INDUSTRIES: The stock has recently rendered itself into sideways moves. The prices on the daily charts have drifted below the KS & TS lines, moving towards lead line 2 where it may find support. Breaking below it will not be favorable for the stock in the short term. It may further fall down to 1295 thereafter 1195. The momentum indicators are indicating...
COAL INDIA: Coal India registered a Kumo Breakout in today’s session. The KS is pointing up and future cloud is positive. CS is free, these are early indication of trend change. RSI bouncing from the 60 levels further pumps up the analysis. However the entries can be refined at 202 – 203 levels, the next resistance levels are placed around 224. Below 198 the...
In continuation of my previous post, there was a concern on the Nifty weekly chart, the RSI on the weekly charts was close to 60 levels. Now the candles on the daily charts in the last two sessions seems to pull breaks on the rally. Though the momentum hasn’t dried up on the daily, the price pattern is giving signs. 11785 is the gap area, a close below this may...
Divergence makes for a short- setup, expecting it to go down
Giving a look at the Nifty weekly chart. The index is moving into gap zone plus RSI is near 60 levels. Though the daily charts don’t display any caution yet, but 60 levels on weekly’s are pressure points. The week is still on, so the analysis will make sense only after the weekly close by Friday. But the exuberance is building up, emotion outburst are generally...
Sunpharma has to buck up momentum here. The advances are forming narrow candles, RSI is not quite pulling up, if the momentum fails to pick up in a session or two then this whole move up may be a corrective and a fresh sell off may be witnessed. Bearish view may be negated above 415 closing basis.
The stock seems to be into a corrective pullback. The RSI is halted near 60 levels and curled down. The correction may take the shape of ABC pattern. Breaking of the upward sloping channel will confirm the pattern.
The stock is trading at a very crucial juncture. The RSI is indicating a sideways trend, important support pivot level is 8.75, below this point the stock may falter and selling may set in as the stock may start to move down in A-B-C pattern. On the flip side a good close above 9.30 may change the course of the trend GE may start trending up. For greater insight...