NSE:APOLLOTYRE is making a higher high whereas RSI is diverging by making a lower Highs. If taken a trade, In my opinion if RSI crosses below the support line one must exit the trade and take out profits
It's about continuation pattern. All details are mentioned on chart. But, in case of any doubt (or mistake made by me on the chart), please comment and let me know. Thank You. #growtogether
In NSE:APOLLOTYRE the stock was making Higher highs whereas RSI was making lower highs creating the divergence. The stock yesterday closed below the trendline and so did the Rsi. The target for the same will be the immediate support that is also the channel line of the stock. * It is my analysis and not a buy or sell recommendation.
We can See in NIFTY Hidden diversion has formed between 31 March to 13 April when this kind of scenario happens we have observed most of the time the next day of the market performs like wise :- 1. market opens at the same levels of the last close or some points up from the last close and do not break the previous Low and stay above the hidden diversion support...
Closing price and closeing RSI on daily charts are showing bearish divergence, as you can see in the published chart. That gives SBI Cards a probability of correction in price before further upward movement.
Bata India Looks weak on weekly time frame with Bearish ABCD pattern and RSI Bearish Divergence. A Bearish candlestick pattern on weekly time frame will confirm bearishness. t.me