#HDFC 2278

Divergence formed on Daily charts. Should be ready to reverse in a few

#Praj 365

Going for 450+

https://t.co/Jh4Q0CpxPg

Disc: Invested

Anybody claiming that the metal rally is over is fooling himself.

Price just needs a retest of the breakout zone
RSI way too heated so needs a cool off
Some pullback/consolidation is

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.

#AsianPaints 3028

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

#Praj 366

Here too one side would give up soon. I'm putting my money on the

HDFC Ltd -- Stock at major. Low risk play with stop loss below red bar.

Chart courtesy @mundra_devansh

#HDFC
* Major consolidation breakout today; now at new record high
* Pattern indicates positive trend to continue
* Support zone 2880-2850
* Upside potential 3100-3400
#BREAKOUTSTOCKS #trading #investing #StockMarket @religareonline

#HDFC looks selling over in thsi counter !!

#HDFC futures - on short term charts - another excellent trade with very low risk (entry at 123 pullback bullish)

In the last 2 decades #HDFC has fallen below the 200WMA only 4 times. Those have been fantastic opportunities for LT holders.

We are just 10% away from there now

This is not a reco *
Just an observation and a fact.