ITC seems to be making a bearish divergence. As indicated in the graph
at the reference Bar following data emerges.
c-248.90
rsi- 51.36
22-10-2019
Now our comparative bar poses below picture:
c- 249.05
rsi- 51.17
24-10-2019
Thus we can clearly see that despite the Closing price being higher there has been a lower rsi. Looking to achieve target of 236 within one week time.
at the reference Bar following data emerges.
c-248.90
rsi- 51.36
22-10-2019
Now our comparative bar poses below picture:
c- 249.05
rsi- 51.17
24-10-2019
Thus we can clearly see that despite the Closing price being higher there has been a lower rsi. Looking to achieve target of 236 within one week time.
Comment:
SL hit. Trade Closed.