SBILIFE was entered on21st May , since then the stock has rallied to 17.5%. Lately there has beena development of weakness in the RSI as depicted by the negatively diverging lines on price and RSI on the hourly chart. In order to safeguard the capital and protect profits, I suggest it is best to book out at this point.
After nearly 6 months of stalking, escorts has presented an opportunity. on 12 April I entered the stock prematurely, incurring a 2% loss. But now, 100 points lower @ 1113, the stock has posted a positive divergence between momentum and price action. With a slightly bigger stoploss of 4% (1170) the stock looks ripe for T1 of 15% and T2 of 30%. Time frame- 2 to 3 months.
The stock ITDC was identified on 20th April as a potential buy candidate. The basis was a simple analysis of price and momentum indicator- RSI. Now I say simple, does not mean it is easy. When the price kept falling lower, RSI was already climbing. This was one of the prime evidences which built into my conviction to purchase this stock.
Now, it is 9% positive...
After taking support at the 50% Fibonacci retracement level ( ~44000), Gold has shown a definite reversal on the chart. This observation if further strengthen by the momentum indicator- RSI, maintaining stance above the level of 30.
On its way uo, Gold is now faced with a two-fold resistance. One, from the 38.2% retracement level of the previous trend and two,...