RSI is a mechanical indicator used in technical analysis; this indicator can be used to find whether stock is overbought or oversold. Along with this RSI has a very special purpose, it can find out medium term trend in stocks or Nifty. How that I will show you, now in RSI we have to important levels 30 level which is oversold region and another 70 level considered as overbought region. Whenever ... [Continue Reading]
Stock with Positive Breakout Today in NSE Nifty Index, Buy them on Dips
After covering the stocks with negative breakout in my previous article I am here with a list of Nifty index stocks which are giving positive breakout. Let’s begin with some defensive names: 1. Hindunilvr: This is FMCG company, stock has give a positive up move after breaking above 360 level, we are positive on this stock, and traders can keep looking for buying opportunity till stock enjoys above ... [Continue Reading]
Nifty Index Stocks Giving Negative Breakout, Stocks to Short Sell Today
Nifty index stocks that has broken below support level, gave a negative breakout. Hire is the list of them: 1. Reliance: Stock has broken support level of 900 level and so it’s a selling opportunity on charts. 2. State bank of India: SBIN has been negative after the results were announced and S&P has downgraded it. On break below 2000 level stock has become extremely negative. 3. BHEL: On ... [Continue Reading]
Industrial Output Slows Down, How to Trade Nifty Future for Intraday
IIP data has been released today; we have been surprised by the data that was announced. We have seen contraction in industrial production for previous month. Market’s reaction was also in form of huge selling in stock like L&T, BHEL, SBIN, ICICI Bank, Reliance, Tata Steel, Tata Motors and many others, hence pulling nifty future to make new 52 week low. If we look at nifty future then there we ... [Continue Reading]
Nifty Future Breaks the Range, Long Positions Entered on Nifty
If you look at previous range then it was 5200 and 5400, on breaking above 5400 our immediate upside target will be 5600 level. Long positions were added on breaking and successfully closing above 5400 resistance. We were optimistic this time as momentum continued and increased liquidity is returning into equity markets, moreover technical traders are also bullish as nifty future has managed to ... [Continue Reading]
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