#NiftyBank 34650

34300 zone will provide a good

A Tattoo has been posting selective screenshots of my Tweets to this followers to showcase how I do not know how to use RSI.

While he runs his shop showing other people down, here are the basics for the wise:

1) RSI above 70 gets into overbought zone but it's the crossover from

the 60s to the 70s that gives the maximum thrust.

2) Daily RSI gives a good thrust but that can stay short-lived. It's the weekly/monthly RSI crossover into the 70s that provides a more sustained thrust

3) During the weekly crossover, daily RSI might reach astronomical levels

Many a times into higher 80s or early 90s. So in a shorter time frame this daily RSI would try to correct but since the weekly RSI is getting stronger, these dips would be shallow and short-lived and price would try to move higher again.

You would have seen such a behaviour in Wockhardt. Price hit a 20% and then went another 10-12% higher which heated the daily RSI and the price corrected sharply on day 3.

4) But because the weekly RSI was getting a crossover into the 70s, price reversed quickly to hit 10% more.

5) Now when this weekly RSI becomes heated, that is when the price might make a medium term top. Again, if the monthly RSI too gets a crossover into the 70s then the stock can continue to perform well for a few months till the monthly RSI gets heated.

Does #LaurusLabs makes good investment bet at current

#HindCopper 138

Thank me when it crosses 680!

Till then, do whatever you want to do man but don't trouble me 😀😄

#HC 117

Supports and

#AsianPaints 3028

2880 is a good support level and needs to be protected at weekly

#BANKNIFTY futures on short term charts 0.15% - interesting pattern
@Prashantshah267 @Definedge

#BANKNIFTY (daily)
Showing strength from 3 days.
Major trend still bearish bcos trading below 200DMA
Short term bias will turn bullish after close above 35000 towards 36000/37000+
Close below 34000 will turn this strength into distribution & lead towards 33000/32150 levels.

Gap down followed by down side move, few PE SL hit,
But system blessed 2.50 L with ROI ~ 1% at this volatile move. Add-on positional profit 10K too.

#banknifty 32200 coming soon

Anyone here following this intraday nifty and bank nifty futures strategy religiously? Please share results/experience 👍🏻

I feel it’s working with pretty decent accuracy.