Due to the strong bearish candle on Friday's session, the Nifty has formed a bearish engulfing candle
on weekly charts which indicates exhaustion of the uptrend. Is this so? let's take a multidimensional view
Nifty has passed below 20DEMA above which it was taking support in last few days
which is a sign of weakness and a signal of strength...
we can see price is falling and rsi is showing positive divergence the stock has fallen from very high price till now did not rally in this bull run so it might turn around
There are few reasons for the above observation, They are :
1. There is a Bearish Bat harmonic pattern formed. Only a small correction happened
2. A Head and Shoulder pattern formed which gives a bearish signal
3. A cup and Handle pattern also formed which gives a bearish signal
4. A triangle pattern can be seen. It is in the way of downward breakout, and,
5....
MAHINDRA &MAHINDRA has reached its all-time high Price in the Daily timeframe. It is moving in Ascending Parallel Channel from March month on Daily timeframe.
On the daily timeframe, it has made four times flag and pole pattern and reached its target also.
As we know, when the short-term EMA is above the long-term EMA then the trend is bullish and for...
RSI low angle and chart. low angle there was divergence .
RSI low connecting line angle is upward
It's call as Positive Divergence.
After divergence upward movement sen in chart
# INFY has a strong support near 1480-90 region, also it is showing a Positive RSI Divergence in daily & weekly charts. I believe it is a good time to accumulate. Constant compounder, Cash rich Behemoth.
Analysis:
1) Currently RSI has converged with the stock, forming higher lows while stock has formed lower lows. It is considered as strongly bullish.
2) Stock is at very strong support from which it has previously broke corresponding resistances.
Target and SL will updated on confirmation.
Disclaimer: These analysis are only for educational purposes only. You...
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.
banknifty is travelling inside a bullish channel
Elliot 5th wave has started
RSI divergence also visible
Market is bullish for now
short only when the channel and RSI divergence is broken
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