Stock is currently testing a strong resistance zone around ₹5649, which has previously acted as a supply area. Despite bullish momentum, the RSI is showing bearish divergence, as marked by red arrows, each price high is not supported by a higher RSI peak.
🔍 Key Observations:
Price is at previous swing high zone.
Bearish RSI Divergence indicating possible momentum loss.
Volumes are not confirming a breakout yet.
Risk-Reward setup looks favorable for short-side trade if rejection seen.
🧠 Plan:
Watch for price rejection at this level.
Short below ₹5580 with SL above ₹5650.
Potential target around ₹5150-5200 zone (previous support).
🕵️♂️ Wait for confirmation candle before entry. This setup is ideal for short-term positional traders with strict risk management.
🔍 Key Observations:
Price is at previous swing high zone.
Bearish RSI Divergence indicating possible momentum loss.
Volumes are not confirming a breakout yet.
Risk-Reward setup looks favorable for short-side trade if rejection seen.
🧠 Plan:
Watch for price rejection at this level.
Short below ₹5580 with SL above ₹5650.
Potential target around ₹5150-5200 zone (previous support).
🕵️♂️ Wait for confirmation candle before entry. This setup is ideal for short-term positional traders with strict risk management.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.