RSI: RSI ia at 61 levels. Stock is around its resistance. We can see an upside movement in the coming 2 weeks if it broke its resistance. Traders can take a trade at a given entry price.
Moving Averages: The 5 day SMA is above the Bollinger Bands 20 days MA Band. . You can keep the 5 SMA Line as trailing stop loss once the target achieved.
Bollinger Bands: Stock has to break the upper Bollinger band with a good amount of volume. If it sustained at this level we can see a strong bullish trend. To cut down the risk traders can enter it when it breaks the level of 350.
Volume: Volume is near its average volume.
RSI: RSI ia at 71 levels. The stock has given a breakout. Risky traders can take a trade at a given entry price.
Moving Averages: 5 days MA is above the Bollinger Bands 20 days MA Band. You can keep the 5 MA Line as a trailing stop loss once target achieved.
Bollinger Bands: Stock has crossed the upper Bollinger band with a great volume. Stock is currently on its all-time high risky traders can enter the trade but to cut down the risk, we can wait for the stock to retrace and then enter to it
Volume: The volume of the stock is much above its average volume.
|NIFTY 50 ANALYSIS|
1.On 21st May 2021. Nifty opened at 14,987.8, made a high of 15,190 and a low of 14,985.85. It was a good bullish candle, it is near the upper Bollinger band. Nifty is around its all-time high that is 15,431.30.
- On daily charts, Nifty looks to go on an uptrend as RSI is around 60.3 it means nifty can show upward movement in the upcoming days.
- As Nifty breaks out the levels of 15,000 but to get a clear uptrend movement, it has to sustain these levels if it doesn’t sustain we can see nifty to go on the consolidation zone again. As it’s near the all-time’s high we can see a retracement from it. Nifty needs to cross the upper Bollinger band to go on the strong uptrend.
- On 21st May 2021. Bank Nifty opened at 33,559.8, made a high of 34,694.45 and low of 33,559.75, and closes at 34,606. It was a gain of 3.82% from the previous closing. It has crossed the upper Bollinger band which gives a clear breakout.
- Previously Bank Nifty was near the upper Bollinger band and afterward, it retraced from there but this time it has to brake the band which is a strong bullish signal. RSI is around 61.5 which says Bank Nifty can move forward in the uptrend.
- As Bank Nifty breaks out the levels of 34,000, we can see a bullish trend from here up to the levels of 37,000 which was its 52 weeks high.
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