RSI: RSI is at 68 levels. The stock has given the breakout after being in consolidation for several months. We can see an upside movement in the coming 2 weeks. 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 brake the upper Bollinger band with a good amount of volume. If it sustained at this level we can see a strong bullish trend.
Volume: Volume is above its average volume.
RSI: RSI is at 71 levels. The stock has given a breakout in the weekly chart. Traders can take a trade at a given entry price.
Moving Averages: 5 days 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 crossed the upper Bollinger band. Stock is currently on its all-time high. Stock is on an uptrend for the past 1 year. We can see that it continues its trend. Previously whenever the stock has cut the upper Bollinger band it has sustained that level.
Volume: The volume of the stock is low from its average volume.
|NIFTY 50 ANALYSIS|
1.On 21st May 2021. Nifty opened at 15,421.2, made a high of 15,469.65 and a low of 15,394.75. It was a small bullish candle, it is near the upper Bollinger band. Nifty is around its all-time high that is 15,469.15.
- On daily charts, Nifty is in an uptrend as RSI is around 66.3 It means nifty can show retracement from here in the upcoming days.
- As Nifty breaks out the levels of 15,000, it has given a clear uptrend movement in the past week. as nifty is in all-time high and a previous couple of days the candle size is getting shorter which gives a strong signal for a retracement from here. Monday’s candlestick is very important which will give us the signal that nifty will be moving up from here or going to retrace.
- On 28th May 2021. Bank Nifty opened at 35,345.65, made a high of 35,436.65 and a low of 34,977.20, and closes at 35,141.45. It was a gain of 0.13% from the previous closing. It near the upper Bollinger band which gives a strong resistance for Bank Nifty.
- Previously when Bank Nifty has given the break out of the upper Bollinger band and afterward it retraced from there, this time Bank Nifty has given a good bullish rally from past 7 days as said in the previous swing calls. RSI is around 63.8 which says Bank Nifty can move forward in the uptrend.
- As Bank Nifty breaks out the levels of 34,000, it again breaks the upper Bollinger band we can a good upside movement this week also but if it did not cross the band then is this week we can see range-bound in Bank Nifty.
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