T A : R S I LESSON FOLLOW UP

classic example of what i had written abt. RSI divergence , it appeared yesterday..notice in the chart that when we were at 4316..RSI was way down below 10 and yesterday when we went below previous low..of 4316 to 4248..the RSI was around 20 and turning there by giving a signel from thursday that this selling will stop soon and it is giving POSITIVE DIVERGENCE. so cut your shorts today or next day and go long.. and the market just did that recovered all loss of the day and went on to close at high point of the day. one can also notice that RSI just touched the 50 mark( from low of 4316) and again turned down wards and the fall was very severe as below above 50 levels the trend sets in...cheers..

WEEKLY TECHNICALS 25 TH AUGUST.

NIFTY FUTURE: CLOSE- 4324

WEEKLY: HIGH-4458 LOW-4252

Stop/Reverse : 4345

R1 : 4437 R2 : 4551
S1 : 4231 S2: 4138

as markets are in oversold zone in intra day charts, an upward bias can be expected at the start og the week.the daily charts still has a downward bias so weekly s/r being 4345..trade according with strict stop losses. happy trading.