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Bullish divergence On RSIOscillators are most useful and issue their most valid trading signals when their readings diverge from prices. A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
BITCOIN FORMED BULLISH DIVERGENCE FUELING TO 75KScenario 1: CRYPTOCAP:BTC Moves Up with Strong Volume After a Rate Cut
Bullish Divergence Support: The bullish divergence suggests that #Bitcoin is gaining strength, indicating a potential upward move.
Volume Confirmation: If BTC moves up with solid volume post-rate cut, it could break through 74k and potentially head higher. Increased volume after the rate cut could be a sign that institutional or retail investors are confident in the rally, driving prices above previous resistance levels.
Target: If this scenario plays out, BTC could surpass the 74k mark, especially if the broader market sentiment is favorable post-rate cut.
Scenario 2: BTC Reaches 73k, Then Faces Another Correction
Resistance at 73k: If BTC reaches 73k but struggles to break above it, this would indicate a strong resistance zone. A pullback could follow as the market hesitates or prepares for another consolidation phase.
Correction Potential: In this case, CRYPTOCAP:BTC may correct before attempting another rally. This could be a short-term dip that sets the stage for a more significant breakout once the market rebalances.
Target: If the price reaches 73k but can't break it, then a pullback would likely bring BTC back into a lower range for a while before making another attempt at the next breakout.
Key Factors to Watch:
1. Volume: As you noted, volume is crucial. A strong volume push above resistance (like 73k) would favor Scenario 1.
2. Macro Events: The rate cut and overall macroeconomic factors could heavily influence the market. If the rate cut signals more liquidity or favorable conditions for risk assets like Bitcoin, Scenario 1 becomes more probable.
3. Market Sentiment: The overall sentiment in both crypto and traditional markets will play a role. If broader financial markets are stable or bullish, Bitcoin could push past the resistance levels.
Ultimately, monitoring the price action around the 73k and 74k levels, as well as volume trends, will help clarify which scenario is more likely.
Endurance Technologies Ltd (NSE: ENDURANCETECH) Stock AnalysisKey Points:
Market Cap: ₹29,961 crore
Current Market Price (CMP): ₹2,130.05
Average PE Ratio: 44.03
Dividend Yield: 0.40%
52-Week High/Low: ₹2,318.80 / ₹1,357.00
Beta: 0.54
Technical Analysis:
Upward Trend: The stock has been moving upward, forming a cup pattern on the daily chart.
Support and Resistance:
Resistance: ₹2,318.80
Support Levels: ₹2,026.34 and ₹1,951, where it can potentially show a reversal.
Patterns: In the daily and weekly frames, the stock shows reversals from the 50 and 100 EMAs and has formed a double top pattern.
Investment Consideration:
Endurance Technologies appears to be a strong candidate for a mid-cap auto sector portfolio addition due to its consistent upward movement and favorable technical indicators.
Disclaimer:
This analysis is for educational purposes and not financial advice. Always conduct your own research and consult with a financial advisor before investing. The author is not SEBI registered and holds no responsibility for financial losses based on this analysis.
Conclusion:
Endurance Technologies Ltd shows promise with its technical uptrend and key support levels. Monitor for potential reversals at the support levels before adding to your portfolio.
Bullish of Piramal PharmaIts following a channel.. currently breaking out and might retest in coming days. DAILY RSI is 70 showing strength / Weekly RSI is 66 ( Showing strength) Monthly RSI 49.12 . Ideally I would want it to be above 50 but this is good and should get over 50 by the end of the month.. Price might jump to previous highs
CENTRALBK Looking RSI Bearish DivergenceIn weekly chart, RSI making bearish divergence.
RSI also Above 70 level in Weekly Candle and making Bearish Divergence.
As per my View on Future Price may come at Rs.45
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 1.21% over past five years.
Company has a low return on equity of 2.23% over last 3 years.
Contingent liabilities of Rs.1,43,504 Cr.
Company might be capitalizing the interest cost.
Jupiter Wagons Limited - A very Short term spike expectedNSE:JWL - Technical Analysis Update 🚀📈
Current Price: ₹339.50 (as of Jan 5, 2024, 11:47 AM)
Key Indicators:
Parabolic SAR: Buy signal triggered 🟢
Moving Averages: Crossover at ₹323.20
MACD: Histogram at 1.21 (positive), MACD at 0.46, Signal at -0.76
Stochastic RSI: K at 75.55, D at 53.11 (not overbought yet)
%R: -14.14, touching upper baseline
Fisher Transform: -0.01 (Fisher), -0.59 (Trigger)
Market Outlook:
The stock shows potential for upside 📈, especially with the recent big order win.
Short-term bullish trend starting, watch for the close above ₹341.20 (critical Fibonacci 0.618 level) for confirmation.
Trading Targets:
First Target: ₹350.90 🎯
Second Target: ₹363.20 🎯 (approx. 1.0 Fibonacci level)
Caution:
High volatility expected. Enter for short-term trades 🔍.
High P/E ratio above 50. Short-term positions advised.
Keep an eye on market opening movements for further clues.
Stop Loss: ₹ 327.15 (around the key Fibonacci Levels of 0.382 - ₹ 327.40) ⛔
Conclusion:
Jupiter Wagons Limited is a promising pick in the railway wagon sector. Ideal for short-term traders looking for growth opportunities. Stay alert and trade wisely! 🌟🛤️
Disclaimer:
General Information Only: This analysis is provided as general market commentary and does not constitute investment advice. It is provided for the information purpose only.
Not a Recommendation: The information provided does not take into account your individual investment objectives, financial situation, or specific needs. It should not be relied upon as a recommendation or an offer to buy/sell or as a solicitation of an offer to buy/sell any security or financial instrument.
Accuracy and Completeness: While care has been taken in gathering the data and preparing the analysis, there is no guarantee of its accuracy or completeness.
Market Risks: Investing in the stock market involves risks, including the potential loss of principal. The value of investments and the income from them can fall as well as rise.
Past Performance: Past performance is not indicative of future results.
Personal Responsibility: Investors are advised to conduct their own independent research into individual stocks before making a purchase decision. It is important to be aware of the risks involved in stock trading.
Professional Advice: Consult a qualified financial advisor before making any investment decisions.
No Liability: The author of this analysis assumes no responsibility for any losses or damages resulting from decisions made based on the information provided.
Regulatory Compliance: This post does not guarantee that the analysis adheres to all regulatory requirements in different jurisdictions.
Conflict of Interest Disclosure: The author declares no financial interest or benefit from the direct or indirect promotion of the stock mentioned.
Capturing Short-Term Gains with Reliance.Reliance Stock Analysis:
Applying the dual bollinger band swing trading strategy to Reliance stock, let's analyze a recent scenario where the conditions were met:
Breakout Candle: On Dec 14th, a candle closed above UpperBand (20,1).
Volume Confirmation: The volume of this Breakout Candle was significantly higher than the volume of the previous two candles.
MACD Confirmation: Both the MACD histogram and MACD line were above zero, indicating positive momentum.
Previous Candles: In the two candles before the breakout, at least one was red and closed between UpperBand (20,1) and BASIS. Importantly, the red candle did not touch the BASIS.
Conclusion:
By following this swing trading strategy, traders can identify potential entry points in the short term, aiming to capture swift upward movements. However, it's crucial to remember that no strategy is foolproof, and risk management remains paramount in trading. Traders should conduct thorough research and consider additional factors before implementing any strategy.
Caution in Small Cap index. . .Time for caution in Small cap index.
We are at 3.618 Fib extension level. When we attempt to do wave count we can likely see end of wave 5.
Also we can clearly see RSI divergence here.
While it will not be good idea to buy at these levels. it is better to look at pocketing some profits.
RSI DIVERGENCE - RADICO KHAITANNSE:RADICO - DAILY CHART ANALYSIS
The price was heading down, making lower lows.
Initially, the RSI indicator was following the price too.
on daily chart its seen that the RSI starts making higher lows while the price is still heading down.
That’s when divergence pattern appears.
After a bullish divergence, the price will tend to change from a downtrend to an uptrend.
PLEASE NOTE THAT:
This chart analysis is only for reference purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
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