Highlights: 1. New All-Time High 2. Massive volume expansion 3. Bullish market structure
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
About the company: Salona Cotspin Ltd is engaged in the manufacture of carded and combed, ring-spun greige yarns for knitting and weaving applications, from cotton. The product range of the company includes 100% Cotton Yarn, Ring Spin for Knitting & Weaving, Count - 20/1 TO 40/1 and Carded - Semicombed & Super Combed. Salona Cotspin Ltd is engaged in the manufacturing and selling of Cotton Yarn, Knitted Fabrics, and Garments. The company caters to both domestic and international markets.
Disclaimer:This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Thanks for all the great learning posts. I do follow you on the telegram channel as well and it has been a great learning experience.
On this idea, I was checking out the charts on the daily timeframe and it seems there is a bearish divergence. Can you please check it once and let me know if that is correct?
johntradingwick
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@amitkishor, Hi Amit, I am glad you like my work. Yes, there is a bearish divergence on the daily time frame. The price is trying to consolidate the gains. It may try to reset the RSI and fall to anywhere between 50-60 level.
On this idea, I was checking out the charts on the daily timeframe and it seems there is a bearish divergence. Can you please check it once and let me know if that is correct?