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Rsidivergence

Multidimensional Nifty Analysis !!!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 exhaustion. Nifty has also formed a double top along with RSI divergence which further is a bearish signal though the pattern isn't confirmed as a breakdown comes below 17300 but the divergence is not a good sign. A pitchfork is drawn from the beginning of the up trend and you can see Nifty respecting the pitchfork. Now it's on the support of pitchfork and there is the max probability that we can witness bounce from here. Also, the Nifty has reached very close to the Fibonacci retracement level of 0.236 i.e. 17407, and along with this there is strong support for the 17500-17400 range. From the above observation, we can conclude that trend exhaustion will be below 17400 and below 17300 we can begin a downtrend. Now, to resume the up trend Nifty has to cross above 17650 i.e. 20DEMA.
NSE:NIFTY
by Chaser30
Bank Nifty may be Bearish ? 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. The RSI bearish divergence gives a bearish formation. All these information gives a Bearish formation in Bank Nifty. Note: The information given here is for the study purpose.
NSE:BANKNIFTY
by Reverse_Trading
Mahindra &Mahindra ALL TIME HIGH!!!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 the bearish trend, the short-term EMA is below the long-term EMA. Here Short-term EMA i.e, EMA 12 is above the Long-term EMA which is EMA 50 which depicts the trend has been bullish. The RSI have showing divergence on multiple time frames. Disclaimer: This post is meant for learning purposes only. Invest your capital at your own risk.
NSE:M&M
by Immature_Snorlax