Rsi_overbought
EICHER MOTOR SHORT TERM VIEW This is my first view on Eicher motor. After learning from the last 1 year.
In Eicher motor one can go for short for 1 to 2 weeks.
It shows the divergence on the daily candlestick pattern.
target 1:- 18500-18400
target 2:- 17500-17300
target 3:- 16500-16300
correct me if I am wrong.
Any suggestion most welcome
thank you !!!
Sunpharma Overbought RSI LevelsSunpharma Overbought RSI
Resistance around 550-580.
On upside we may see
the level of 560 in short term.
Support is around 510-485
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Updated on : 01-Aug-2020 11.00pm
Disclaimer: Only for learning purpose.
We have an immediate support at 12130 levelsThe index bounced back today after correcting during the week. As mentioned that the narrow range candles have created value area which will act as resistance in the coming weeks. The weekly candlestick pattern is not very encouraging for bulls. We have an immediate support at 12130 levels, Nifty is expected to hold on to this to maintain the gains. Above this level Nifty is safe and can move up to 12340, 12410 & 12450. Nifty may face major hurdle at 12340 levels. As the budget sessions gets closer we may expect a surge in volatility and wild swings.
HUL retraced from an importan resistance zone. Fall to continue?HINDUSTAN UNILEVER LIMITED: The stock had a fabulous run in the last few months. In the last few weeks, the stock displayed a loss of momentum and correction occurred. Now the stock took a hit at an important pivot and corrected. The stock has minor support at 1995 – 2000 levels below which there may be a further correction to 1920 levels. However, a move above 2100 will negate the corrective view and the stock may continue the trend up.
Bank of India _ PSU banking index set up move up? Momentum signaBANK OF INDIA: Banking stock specially PSU banks have kept up bank nifty. All PSU banks are strongly poised to move up. The prices have moved up from the daily TS, as of now the prices are inside the kumo, once a breakout is registered the Bank of India is expected to reach 83 levels, the next level of resistance. Till the prices are above 63 the analysis stands true.
NIFTY Topped out or Momentum Break?NIFTY: Daily price action has created a resistance on the chart. Now 12015 (spot) levels will be acting as resistance. The dominant trend is up, the prices are trending above the kumo indicating strength. Momentum has slowed a bit, however it is expected to pick up in the coming sessions if 11820 holds on closing basis. Below 11820 Nifty may drift down 11560 levels. Our “ProRSI moblile trading application has been launched on Play Store and IOS, get high probability trading ideas in equities, futures and options. Download Now.
Larsen & Toubro: RSI not displaying any zeal!Larsen & Toubro: The RSI is failing to display any zeal, taking a hit at the 60 levels and turning down, may not be a favorable move for buyers. The gap created post the earnings have been closed. 1425 closing basis may act as a support, beyond this, LT may start to drift lower.
ITC: Ready for a new trending move? ITC: The RSI has shifted range and held to it after a long time. Overall chart looks good, if Nifty supports the stock may start to scale up soon. The RSI bouncing on 60 is a good sign of buyers presence in the stock. A horizontal supply area is present and ITC is running into it, crossing it and moving ahead will be a good signal.
Nifty: Applying breaks to the rally?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 trigger corrections. Any aggressive longs should be held as of now. It’s not a outright bear call, but a conservative signal.
Nifty weekly charts have something to say.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 not good. Waiting for lower time-frames to show some signs.
AAL registering a breakout! How far it can carry?American Airlines Group – AAL has resigtered a fresh breakout from a consolidation zone. The RSI on the daily charts is close to 72 levels, on the daily charts the big white candle closing above the kumo is an indication of strength. Further there is a kumo crossover as well that indicates strength. The stock is expected to move to 35 levels in coming sessions, entries can be planned between 30.15 – 29.45 levels on the flip side if the stock fails to break away and falls into the cloud again, then stops may be kept near 29 levels. The trade has a very good risk to reward ratio. Follow me on twitter @bharatj82
Sell ALBK ALBK has a strong resistance at 55
RSI sliding from overbought zone
MACD crossover
Short for a target of
TGT 1 -52.5
TGT 2 - 50.25
SL - 57.5
Short vguardMACD crossover, rsi falling below 75, stock closing below 8, 13 and 21 ema..
It has also reached the Fibonacci level of 78.6% and is likely to reach 50% level
A good stock to short for a target of
TGT 1 - 205
TGT 2 - 200
SL - 223
AuroPharma Buying [Setup]Get Cautioned!!! Don't Buy AuroPharma At This Level Because It Above 70 RSI (means it is over brought now) So On Lower RSI Below 60 & Buy It Above 828.
Keep The target Of 880 & You can Also Move It When The Stock Price Breaks The Resistance At 883 Price Levels & Stop Loss Below 790 Would Be Better.
Keep Trading,
& Best Of Luck For The Next Trade!!!
INTRA-DAY/SWING TRADE IN RELINFRA SEPT FUTINTRADAY-SWING SHORT POSITION IN RELINFRA
SEPTEMBER FUTURES
SHORT@470
STOP@477
TARGET@462.5
LOT:1300
QTY:2
Overbought and Oversold RSI - The Myth !Generally, When RSI shows values higher than 70 or below 30, this is to considered as stock or index is overbought or oversold. But that's not always the case.
As we just learned In The Introduction : Relative Strength Index (RSI) that a high RSI means that there were more bullish candles then bearish candles. As stock or index can't go up or down in straight line there will be some pullbacks. IF RSI gets Overbought or Oversold and we get a minor pullback in prices then it must not be considered as a reversal in direction.
It Can be dangerous to believe that just because the RSI shows overbought or oversold condition then its time to sell or buy.
Once we understand What RSI really does, Overbought and oversold conditions must not be a signal of reversal for us which indicate that price will change its direction.
It's a myth and we may miss out on a lot of bigger moves on those momentum stocks.
Following example is a perfect case of Overbought And Oversold RSI And still price continued its Main Direction on Weekly, Daily and on 15 Minutes Charts as well.
Example 1) When Price was at 500 levels RSI did show overbought Conditions and From that, it remained in overbought zone for a long time and price rallied almost 5 times to 2500 levels.
Example 2) RSI was Oversold When Price was around 880 and Since then it made a low of 670 Almost 25% fall remaining in Oversold Conditions. ( Daily Chart )
Example 3) Nifty on 15 Minutes Chart Since when RSI Went below 30, Oversold condition and Nifty gave up another 300 points from there.
Example 4) Banknifty Rallied almost 700 Points Since RSI showed Overbought Condition. ( 15 Minutes )
The RSI done not provide signals to buy when it is overbought or oversold. It simply means that the prices are very strong or very weak.
I know that most of experience traders are here who already knows this things.
Thank you,
EEz
