IT HAS TAKEN SUPPORT ON THE BASE LINE OF THE TRIANGLE AND COULD INCH TO MOVE TOWARDS THE UPPER LINE. ALL INDICATORS SUCH AS CCI, MACD AND RSI ARE ON OVERSOLD ZONES AND A TECHNICAL PULLBACK FROM HERE COULD INCH IT TOWARDS 410 LEVELS AND A BREAKOUT FROM THE TRIANGLE CAN SHOW US A NEW RANGE.
The scrip has formed double bottom. There is divergence in the trend of price and indicators(RSI & macd) thus there is high probability of trend reversal. If the price break yellow trend(resistance) line then uptrend will start.
Technical details:
1) Stock has last week broken out of an one and half year downward channel with huge volumes and reached a high of around Rs 420.
2) In that process stock's 30 day ema has crossed 200 day ema.
3) CMP is around 345 meaning STOCK HAS CORRECTED FROM A HIGH OF 420 TO 345.
4) 4 HOUR CHART REVEALS HIDDEN BULLISH DIVERGENCE VIS-A-VIS STOCH 14,3,3 /...
NXT going to increase to 0.587$ in short term as it can be validated from BB and Fibonacci (0.236 level).
MACD is crossing the zero line and RSI is rising above from oversold region, both are giving positive signals for NXT.
Disclaimer: This chart is just for informational purposes and not an investment advice. Please trade at your own risk.
After witnessing heavy buying, the script in moving consolidation phase from a month. MACD and RSI indicates divergence.
Biocon short trade idea.
SL - 556
Target - 486
candles are in triangle pattern, macd is near 0, if it breaks down the 0 and price down to 210 it becomes stop loss (or) the target 270 will be reached in two months .
AS WE CAN ALSO SEE AN UPWARD CONVERGENCE ON CCI & MACD HISTOGRAM WITH SHORT HAND ABOVE LINE ZERO & UPWARD CONVERGENCE ON RSI. THIS WILL GIVE A MOMENTUM UPWARDS.
*BE CAUTIOUS BEFORE TAKING ANY BIG TRADE AS ALL OSCILLATORS SHOWING OVER HEATED. USE STRICT SL OF 10690 FOR ANY TRADE.
It has been observed that the price action rallied a long wave up. It made a new high but could not sustain and now indicating further correction from here on. MACD indicating a negative crossover too.
T1: 1350
SL: 1450
SREIInfrastructure has bearish formation here with resistance from the ICHIMOKU cloud on top as well as a fall below the EMA(200). MACD signal is also bearish. An overall bearish movement with lower high's and lower low's.
Clearly divergence in MACD and RSI are telling the forthcoming weakness that too at the level of multiple resistance so one can take chance by shorting the stock. STOP LOSS Little above the recent high. Just to mention that divergence at the top are relatively tricky comparing to formed at bottom.
