Panjang
RSI Bullish Divergence & contraction of volatility
In this setup, I have clearly explained how powerful RSI divergence is but sometimes they don't work is some kind of stocks.
In my own opinion, I think HDFC Follows RSI Divaregance & this move fill be a successful move.
Observation
Price Action
-> In the last 5 days narrow range candle has been formed. (Contraction of volatility)
-> Positive price channel formation.
-> RSI Shows good strength & supports price now. (Signifies that price is strong & no major trend reversal)
-> MACD is still below zero but it's still indicating a bullish move.
-> Rs 1860 should be the First target as per Fibonacci. /
Last three days Delivery %
21 April 2020: 59.86%
22 April 2020: 53.54%
23 April 2020: 46.19%
Option Chain ( Expiry 30 April 2020)
1700: Highest OI on Call side.
1600: Highest OI on Put side.
In my own opinion, I think HDFC Follows RSI Divaregance & this move fill be a successful move.
Observation
Price Action
-> In the last 5 days narrow range candle has been formed. (Contraction of volatility)
-> Positive price channel formation.
-> RSI Shows good strength & supports price now. (Signifies that price is strong & no major trend reversal)
-> MACD is still below zero but it's still indicating a bullish move.
-> Rs 1860 should be the First target as per Fibonacci. /
Last three days Delivery %
21 April 2020: 59.86%
22 April 2020: 53.54%
23 April 2020: 46.19%
Option Chain ( Expiry 30 April 2020)
1700: Highest OI on Call side.
1600: Highest OI on Put side.
Nota
Today HDFC rallied up to 7.75%Nota
Another 7% Rally37% Delivery looks a bit speculative. Partial profit booking should be done.
Dagangan ditutup: sasaran tercapai
First Target reached.Now focus on channel
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.