An Inverted Head & Shoulder Chart Pattern Breakout happened on the weekly Time frame of NSE:SUNTECK
Price Action is well supported by the volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list.
Initiate the long trade only according to the levels mentioned on the charts.
Stop loss...
I usually don't suggest penny stocks. However, I found the chart of a Nifty500 stock, Infibeam vey interesting!
We have a beautiful positive RSI divergence currently in weekly time frame.
If you observe the chart, a similar divergence is visible near the previous low of 7-8 after which it rallied upto 28.
It can be a good positional trade between 12.5 and CMP for...
NSE:HDFCAMC Analysis on a weekly timeframe!
Double Bottom Pattern in HDFCAMC!
RSI Divergence in HDFCAMC!
Entry = Above Neckline
Stop Loss = Below 2216.95
Target = 3344.40
Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward...
Tata motors spot cmp 590
weekly time frame
Wolf wave study
Bearish wolf wave formation
Counter is in overbouht zone as per structure, trading above the resistance line.
Previous life time high levels at 600,
Bearish divergence on RSI, with respect to price.
counter is facing price rejection around 600 levels, which act as resistance as per previous life high...
Reliance spot cmp 2618
weekly time frame
chart pattern study
Descending parallel channel pattern fromation
As per resistance trend line of structure, counter would face resistance around 2650 levels
if we observe last 2 swing in this channel ,last time counter reversed after retracing around 78.6% of previous swing, this time 78.6% of last swing lies around 2632...
Larsen spot cmp 2480
Weekly time frame
Elliot wave study
Counter is trading in last leg of motive phase which might mature around current levels.
v of 5 is in play,
Ascending wedge pattern indicate counter is overbought as its trading above structure.
RSI and MACD have bearish divergence with respect to price.
Last week counter made high of 2483 levels and today...
Observing the BankNifty price chart, we can see that the price is making higher highs while the RSI is making lower highs, indicating a clear sign of RSI bearish divergence.
Entry:
To capitalise on this bearish signal, we can consider going short once the close of a strong bearish candle is below the weak support level marked on the chart.
Stoploss:
To manage...
According to the daily chart, UPL has formed a double bottom pattern near a significant support zone. Notably, while the price made a double bottom near the same level, the Relative Strength Index (RSI) recorded a higher low, indicating a bullish divergence in the RSI.
Entry:
We can go long after the close of a strong bullish candle near the support...
While observing Nifty 1 hour chart today, found out that price is making higher high & higher low structure where RSI is making lower high which is sign of Divergence. Who will win this tug of war between bulls and bear??
Today's stock for analysis is DCXINDIA.
This stock was recently listed nearly 50% premium over the IPO issue price of 207. Since its listing, the stock is in continuous downtrend as seen on chart.
However, from past few days, we can see a retracement coming from levels of 150 in the stock. RSI positive divergence is also visible.
175-178 is a strong supply zone...
LOOKS GOOD FOR LONG POSITION WITH A SL OF 1370
Reasons:
- Wolfe Wave formation
- Wave 5 Taking immense support at Golden ratio of 1.618 ( Retracement of Wave 4 )
- Exaggerated Divergence of RSI
- ADX Reversing Downside from 44
- Risk to Reward Ratio is Fantastic
Target would be 1483 and above it will lead to 1611
CHART & ANALYSIS
Adarsh Kumar Dey
seeing potential reversal in bank nifty
purely based on RSI DIvergence THeory
aiming for targets - 43630, 43555, 43230, 43050
a close of 4 hour candle below 43940 will trigger the sale for more safer entry
gud luck to ones who will enter based on my view
disclaimer - trade @ own risk
As explained, Glaxo is looking strong for a reversal near support trendline. Trendline breakout can be a beartrap.
RSI positive divergence in weekly TF is supporting the analysis. Best buy is near 1265 with SL below 1227 and target of 1345+.
However, this idea is shared just for educational purposes and not a recommendation.
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
looking at RSI divergence on daily chart
eyeing for target - 43630, 43500
43500 pe entry around 125-130
stop @ your own comfort
disclaimer - trade @ own risk
