USDINR has broken the falling channel downwards to evolve into a broadening wedge.
We see the wedge bottom and 200 day SMA confluence. RSI has moved into the oversold region.
An ideal buying opportunity with low risk high reward would be when USDINR bounces at the 200 day SMA and wedge bottom along with RSI crossing above the oversold region.
EXCELINDUS weekly chart shows its highly overstretched at current levels.
Formed a broadening wedge pattern.
Expecting it to test 1300-1350 zone soon. Investors who are very bullish can buy a small quantity in this zone. But it would be safe to wait for a bounce confirmation on weekly chart at this zone before you buy.
Is this a bearish divergence or a hidden bullish divergence?
Please leave your response with a valid reason.
I wont be answering this question as I want you to do your research and find the answer for yourself and in the process of finding the answer I am sure you will get to learn a lot about divergence. I have seen a lot of posts and personal messages on...