BSE:TATAELXSI Recommendation--> Buy: 1490 - Sell: 1535, 1560, 1600 - StopLoss: 1470 RSI is near 50 which will cross the 60,70 and 80 levels in 3,7 and 10 trading days Trading sideways in the range of 4.25% (1411 - 1470 - 1530) for 3 months. On Balance Volume constantly increasing which means accumulation is happening before next breakout. ...
The stock has formed a nicely Wolfe wave at the Junction which seems to work as resistance. My experience with this patter is that it works better if it breaks the boundaries come back but we can still take the chance here by providing small stop loss of high of recent swing. Mostly it offers good risk to reward trade. Good Luck!
Will buy-on-dips strategy work this time? This is the best setups for bulls - buying on dips and a jhat-pat trade. The resistance turns support at 8,970 (pink line) will be crucial for bears to break. The recent rally in the range of 9,000-9,200 seems to be disheartened for bulls. The rangebound session with index being firm above 9K express positive yearly...
Today's big Black candle which engulfed the last 2 candles and closed at lowest level is showing the forthcoming weakness. It is also showing bearish divergence in the overbought Zone. One can short the stock at the level where Stop Loss of 1102 on closing basis is affordable to them.
With reference to my previous post on learning how to use RSI Divergence for trading. I've observed a beautiful trade is developing. The trade is almost ready so one can put it into their watch list, observe the price movement and take timely action.
Channel and RSI Divergence are suggesting a short at current level for a target of 28.30 by providing a suitable Stop loss. However one can notice that Primary trend started on Aug 2015 is still intact and driving the prices higher so it is not for trend follower but small contra trend to add fast profit to your capital and exit.
Divergence are lucrative and effective method to trade, however many people find it difficult to use so I am giving important points one should keep in mind: 1. RSI divergence should be used when formed in overbought or oversold Zone. Others may be used in combination with other studies but NO trade solely based on it. 2. Since we are handling here the situation...
RSI correction on Justdial Trade: Short below - 398 Target 1 - 394 Target 2 - 390 Stop loss - 403
ABIRLANUVO perfect balance sheet company. The company will be in the correction mode now. One can buy it at the level of 1331 with the target of 1450 in coming days. Even RSI is showing overbought as of now.
Rsi oversold area divergence on 5 min chart and bullish bat pattern on 15 min chart of Deepak fertiliser stoploss - 255 Target - 278 and 284
* Bearish Harmonic on price * Bearish Harmonic on RSI * Negative divergence
Nifty daily chart showing divergence. go long
Trade able Wolfe wave with RSI divergence can generate a reasonable trade at this juncture. One can take advantage of it with small Stop Loss and good risk to reward ratio. Good Luck
Probability of a short term reversal with the following reasons 1. regression channel breakout 2. divergence 3. 3 outside out candlestick reversal pattern One can buy at dips for a target of 470.
It is trading out of regression channel so one can enter long at current level stop loss would be the low of today.
Oh my god! TCS has given major bullish signals in MACD and RSI. Please see the Arrows you will get what I am Talking about and TCS is in value Zone. One can buy Nov Futures and stay long for a target of 2450-2500-2520 with a stoploss of 2354 on closing basis. One can accumulate 2450 Nov calls all trading @ cheap rate.. Best of luck