Wipro : RSI Bullish Divergence Let's understand the RSI Bullish Divergence before we take it into account.
RSI Bullish Divergence
Like all indicators,Divergence also fails sometimes, Success rate of RSI Bullish Divergence is 40-45% for Trade
RSI Bullish divergence will provide good accuracy in Daily Time Frame . As per my view avoid shorter time frame anything below 60 mins
RSI Bullish divergence is formed in Bearish Market or Bearish Price Structure ,It will hard to find in Bullish Market Trend or Bullish Market Structure
Let's decide whether this Bullish divergence of RSI will work for us or not
RSI Bullish Divergence Appeared on Bearish Price Structure - Looks Positive for Trade
Price has fallen almost high from 613 to low from 390- Looks Positive for Trade
Volume trend has been strong over the past few days - Looks Positive for Trade
Trade Set Up
Stop Loss Should be the recent low which is 390Rs (Lower Low Point)
Entry Point Should be the recent high which in 430 Rs (Lower High Point)
Target 480-490
Happy Trading ! Support Trading Community !
