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Rsidivergence

#LETSTALKABOUTMARKETS - Tech MahindraTech Mahindra seems exhausted now and is not participating in the Amazing IT rally that we have seen. It can be considered the weak link in the It index even though it has given a wonderful return. Technically TechM has closed with a graveyard candlestick which indicates a reversal in the uptrend. One can enter into a short position around 870-875 with a strict SL of 910 and for a target of 800. It also has a negative RSI divergence as marked in the charts. Do like and comment your views. This is my personal opinion and purely for educational purposes.
NSE:TECHMShort
by je_sh
NIFTY forms RSI divergence! Rallies more than 1.5% todayNifty - Technical Analysis: -Nifty logs a gain of 171 points, or 1.52 percent, to settle at 11,449.25 -RIL jumped over 7% -It gaped above 11300 based on recovery in US markets after the selloff a few days back, we can see resistance at 11600 and index would need to cross above resistance zone before seeing upper levels. Market - Driving Factors: -Nearly 100 stocks, including Reliance Industries, Asian Paints, Tata Elxsi, Granules India, Infibeam Avenues, Laurus Labs, Adani Gas and Adani Green Energy, hit their 52-week highs on BSE. -The Indian stock market traded higher, boosted by gains in shares of heavyweights such as Reliance Industries, Axis Bank and Asian Paints. -Nifty Metal fell over a percent while the Pharma index settled flat. Nifty PSU Bank index jumped over 2 percent higher. -RIL zoomed 7% as Reliance Industries' plan to sell a stake in its retail subsidiary at an equity valuation of Rs 4.21 lakh crore and its proposed acquisition of Future Group's retail businesses will solidify RIL's position in India's organised retail market and strengthen its consumer business. Nifty - Outlook for Friday, 11th September: NIFTY has come above the resistance at 11300 and showed strong trend intraday with support of index heavy weights. NIFTY also observed a RSI divergence as RSI makes new high but price didn't which is a bearish signal. We can see index consolidation before a move either side.
NSE:NIFTY
by Algokart
1
Pidilite - Stick to it - LONGProfits will stick to those who stick to Pidilite. Afterall, the company manufactures Fevicol!. The Price action has an almost perfect setup for going long - double bottom, consolidation, a nice rejection candle with a long tail. Technical indicators are positive too - RSI Bullish Divergence among other indications. The blue horizontal lines are Gann Levels - an indicator that I published and use extensively for finding S/R levels. Will go long above !400. There is a trend line resistance at 1424.5 which is also a key level for W confirmation. Targets are 1456 and 1480
NSE:PIDILITINDLong
by s.arun.natesh
ITC will go down ? What are the reasons ?Disclaimer ----------------------------- All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Consult your financial adviser before any decision. This is only for education purpose. ITC 4H Chart : Dark cloud cover already activated, see the following chart
NSE:ITCShort
by Shreyanshgohel
3
Nifty - RSI divergence seen - Look for 10095 - 9980 There is something worthy of noticing w.r.t. the rising channel Nifty is moving in and RSI divergence, this time. 1. While the Nifty has made a higher top, RSI has failed to do so. This RSI divergence is seen after a long time, as RSI is considered as a leading indicator, this can't be ignored. 2. Nifty has not touched to resistance line of this channel this time too and the gap between recent top and resistance line is visibly higher than the last time it made an high (8th June). Important levels can be seen on chart, 9840 is important to hold for a medium term prospective. Keep an eye on this rising channel, sustaining above the support line is of significant importance. It is still a bear market rally, (if and) once this support is gone, we may see a steep fall. Today is a derivative settlement day, markets tend to move in bigger ranges on such days, in my opinion it will be better to square off or hedge long position today and initiate short side trades on rallies. I always discourage trading using naked future or option positions, risk defined or low risk strategies are much better alternatives available to all traders. You can write to me over private chat on tradingview or other popular social media mediums using for such strategies. Please remember to carry due diligence and consult your financial advisor / consultant before taking any position in the markets, utilising leveraged products.
NSE:NIFTYShort
by ipuneet
1
Infy - Correction phase?Infosys has seen a correction and a recovery. During the recovery phase, we also observe that the third Elliott impulse wave has been completed and the corrective waves have started. The last 2 weeks has seen a consolidation in the stock with a couple of attempts to both break above and below the consolidation. The counter is now seeing some exhaustion and any break below the consolidation rectangle can lead to a 40-50 point dip towards the 650 zone. There is bearish RSI divergence and MACD crossunder too. All indicators are bearish. Will need a good trigger to push the stock up. Else, will drift to lower levels.
NSE:INFYShort
by s.arun.natesh