JSW Steel - Bearish RSI Divergence on daily chart
Updated
Big Bearish RSI Divergence on daily chart can be seen.
Last two daily candles closed red and 375 is turning out to be a resistance apparently.
I would Go short with a stop of Yesterday's high which is around 377.
Targets are 350 , 330 and 300.
Expecting to hit targets by the end of january.
Last two daily candles closed red and 375 is turning out to be a resistance apparently.
I would Go short with a stop of Yesterday's high which is around 377.
Targets are 350 , 330 and 300.
Expecting to hit targets by the end of january.
Trade active
353.5 was the low. So, no targets were hit and stock is back up at 375. Daily close above 375 will invalidate the setup.Trade closed: target reached
Target of 350 was reached and quickly bounced back.Trade invalid because closed above previous local high.
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