In the chart we can see the formation of positive divergence since the stock is having a downtrend on the hourly chart but its RSI is signalling an upward trend. This means a trend reversal in the near future.
I mostly prefer downside coz people got panic after breaking any support. Ibul gave pinbar at minor resistance please take trade on levels only. and respect the risk.
1.double bottom 2.near diagonal resistance 3.rsi divergence on hourly respect risk
IBULHOUSING Trades using Blue Sky Plus Indicator. Spend less time in doing analysis. Just plain follow the indicator. Message or Comment to get a trial of the indicator.
India Bulls Housing Trades using Blue Sky Plus Indicator. Spend less time in doing analysis. Just plain follow the indicator. Message or Comment to get a trial of the indicator.
Stock is near to important resistance of 870 and expected to fall till 760 levels. I will enter after pullback for risk reward ratio of 1:2.6
Strictly buy above 736 with sl 324 for 349
Positional View buy above 715 or on breakout with sl 700 for target 75-760-770
Hello all, I have seen the Descending Triangle Pattern and a bearish divergence by following stochastic RSI . Which is a clear sign for a down move.
India Bulls Housing Trades using Blue Sky Plus Indicator. Message or Comment to get a free trial of the indicator.
EDUCATIONAL PURPOSES . Based on Supply Demand and the counter has cleared all the orders in the zone to go up with high probability looking at the compression formed.