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Best way to use #RSI for Trading
What is RSI indicator?
RSI is used on price to identify oversold and overbought market conditions. In relative terms, when RSI line touches the 30 line, price is said to be oversold. When RSI touches the 70 line, price is said to be overbought.
What is RSI indicator?
RSI is used on price to identify oversold and overbought market conditions. In relative terms, when RSI line touches the 30 line, price is said to be oversold. When RSI touches the 70 line, price is said to be overbought.
Problem of using RSI traditionally is that in heavily trending market #RSI can remain oversold and overbought for a considerably long duration. Consider example of #TATACHEM for example. If you keep selling because of RSI Oversold, you can continue to make losses. 
So the proper way is to use RSI + Divergence.
What is RSI Divergence? When price is moving in opposite direction of the RSI.
1. Near 70, Price is making Higher Highs & RSI is making Lower Highs; or
2. Near 30, Price is making Lower Lows & RSI is making Higher Lows.
What is RSI Divergence? When price is moving in opposite direction of the RSI.
1. Near 70, Price is making Higher Highs & RSI is making Lower Highs; or
2. Near 30, Price is making Lower Lows & RSI is making Higher Lows.
#Thread
Stocks from Different Sectors
#StockToWatch
EVs :-
#Kabra - Battery play
#JBM - EV Bus Play
#Rattanindia - Revolt EV bike
#WARDWIZARD- Joy EV bike
#TataPower- Charging Station
#TataChem- Raw Material
1/8
▶️Retweet to Reach max people
#NotRecommending
#DoYourResearch
Stocks from Different Sectors
#StockToWatch
EVs :-
#Kabra - Battery play
#JBM - EV Bus Play
#Rattanindia - Revolt EV bike
#WARDWIZARD- Joy EV bike
#TataPower- Charging Station
#TataChem- Raw Material
1/8
▶️Retweet to Reach max people
#NotRecommending
#DoYourResearch
#StockToWatch
Green energy:-
#BorosilR- Solar Glass player
#Swelect- Solar Panel
#TataPower- Largest Player
#Websol- Solar System Installation
2/8
#JustSharing #NotRecommending
#DoYourOwnResearch #Startup
Green energy:-
#BorosilR- Solar Glass player
#Swelect- Solar Panel
#TataPower- Largest Player
#Websol- Solar System Installation
2/8
#JustSharing #NotRecommending
#DoYourOwnResearch #Startup
#StockToWatch
IT Play:-
#Kpit - EVs IT solution
#HappiestMind- Management
#Saksoft- AI play
#KPIT- AI play
#AurionPro- Emerging Businesses
#Cyient- Undervalued
#HGS- Demerger Story
3/8
#JustSharing #NotRecommending
#DoYourOwnResearch #Stocks #Startup
IT Play:-
#Kpit - EVs IT solution
#HappiestMind- Management
#Saksoft- AI play
#KPIT- AI play
#AurionPro- Emerging Businesses
#Cyient- Undervalued
#HGS- Demerger Story
3/8
#JustSharing #NotRecommending
#DoYourOwnResearch #Stocks #Startup
💫Chemical prices are spiraling big time led by supply disruption & power disruption in china and also high demand by base industries.
💫Following 20 Chemical manufacturer's #stocks could benefit from this jump up in short to medium term. #stockstowatch
Short 🧵.......
💫Following 20 Chemical manufacturer's #stocks could benefit from this jump up in short to medium term. #stockstowatch
Short 🧵.......
→ Prices of 'ABS & Polystyrene' have shot up by 38+% MoM on account of supply constraints due to logistical issues.
Potentially beneficial to #stocks like :
💫INEOS Styrolution,
💫Bhansali Engg,
💫Supreme Petro
& others.
Potentially beneficial to #stocks like :
💫INEOS Styrolution,
💫Bhansali Engg,
💫Supreme Petro
& others.
→ Prices of 'Vinyl Sulphone' up by 40%+ & 'H-Acid' up by 62%+ M0M, due to demand recovery & inflated raw material prices
Potentially Beneficial to #stocks like :
💫Bodal Chem
💫Shree Pushkar Chem
💫Bhageria Ind
💫Kiri industries
& others.
Potentially Beneficial to #stocks like :
💫Bodal Chem
💫Shree Pushkar Chem
💫Bhageria Ind
💫Kiri industries
& others.
Continuing the Exercise, time for the weekly review of this:
Stocks which were at 5 Low:
1. #BIOCON : Swept equal lows, good bounce
2. #JKTYRE : Back at Support
3. #HINDUNILVR : Broken previous Support
4. #GODREJPROP : Good bounce, at Equal highs
Stocks which were at 5 Low:
1. #BIOCON : Swept equal lows, good bounce
2. #JKTYRE : Back at Support
3. #HINDUNILVR : Broken previous Support
4. #GODREJPROP : Good bounce, at Equal highs
Stocks which were at 13 Week High:
1. #SBIN : Testing broken resistance
2. #LICHSGFIN : Testing broken resistance
3. #DCBBANK : Testing broken resistance
4. #CHOLAFIN : Testing broken resistance
1. #SBIN : Testing broken resistance
2. #LICHSGFIN : Testing broken resistance
3. #DCBBANK : Testing broken resistance
4. #CHOLAFIN : Testing broken resistance
Continued..
5. #TATACHEM : Broke ATH BUT back down
6. #NOCIL : Tested Support
7. #MFSL : Consolidating at Resistance
8. #BAJFINANCE : Looking Good, tested broken Resistance
5. #TATACHEM : Broke ATH BUT back down
6. #NOCIL : Tested Support
7. #MFSL : Consolidating at Resistance
8. #BAJFINANCE : Looking Good, tested broken Resistance
A Very useful Exercise for Positional/Swing Trading, Suggested by @ST_PYI (Raunak Sir)
Stocks I am watching for this week are
At 5 week Low (No Stock is at 13 week Low):
1.#BIOCON
2.#JKTYRE
3.#HINDUNILVR
4.#GODREJPROP
Screener: chartink.com/screener/5-wee…
Stocks I am watching for this week are
At 5 week Low (No Stock is at 13 week Low):
1.#BIOCON
2.#JKTYRE
3.#HINDUNILVR
4.#GODREJPROP
Screener: chartink.com/screener/5-wee…
Stocks at 13 week high:
1. #SBIN
2. #LICHSGFIN
3. #DCBBANK
4. #CHOLAFIN
Screener : chartink.com/screener/13-we…
1. #SBIN
2. #LICHSGFIN
3. #DCBBANK
4. #CHOLAFIN
Screener : chartink.com/screener/13-we…
Stocks for 07/08/20 Intraday
#AXISBANK
#HDFCBANK
#HDFC
#BIOCON
#HDFCLIFE
#GRASIM
#DABUR
#PEL
#TATACHEM
#GODREJCP
Based on NR7, Volume and Volatility
#AXISBANK
#HDFCBANK
#HDFC
#BIOCON
#HDFCLIFE
#GRASIM
#DABUR
#PEL
#TATACHEM
#GODREJCP
Based on NR7, Volume and Volatility
Only 1 stock gave tradeable move today!
It was #HDFCBANK. However, it gave two separate entries.
1/2 Entry was @ 11:30, price made huge tails at Support with High Volume and was consolidating on VWAP.
+2R profits booked till the previous day resistance level
It was #HDFCBANK. However, it gave two separate entries.
1/2 Entry was @ 11:30, price made huge tails at Support with High Volume and was consolidating on VWAP.
+2R profits booked till the previous day resistance level
2/2 Entry in #HDFCBANK was @ 01:25. A/D ratio was around 2:1 the entire day and hence supported Bullish bias. The price was again consolidating at Previous day support turned Resistance turned Support!
Entry was with BE candle. +1.5R profits booked for this second, late trade.
Entry was with BE candle. +1.5R profits booked for this second, late trade.
