Price playing within the resistance zone. Let it be. This is a healthy sign and it would be good if the stock continues to consolidate in this zone for a few days/weeks. This would help RSI cool down, and also lead to change of hands!

#MaithanAlloys 1022

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.

#Praj 365

https://t.co/dUeXXXB5k0

#CopperFUT 4.658

Has broken out of the falling trend

https://t.co/gCrnHCuJTb

#Praj 338

Is capable of giving multi-multi-bagger returns in Commodity Bull cycles. See what it did in 2001-08 commodity cycle. Can it repeat that performance

#MaithanAlloys 1164

Channel top comes around

#MauthanAlloys 1005

Hourly

#MAITHANALL-1175

Upside potential 1.272% and 1.618%

Near term base Case 1028(987)

#Probability