Observing the BankNifty price chart, we can see that the price is making higher highs while the RSI is making lower highs, indicating a clear sign of RSI bearish divergence.
Entry:
To capitalise on this bearish signal, we can consider going short once the close of a strong bearish candle is below the weak support level marked on the chart.
Stoploss:
To manage our risk, we can place a stoploss above the weak support level.
Target:
Our profit target can be set near the next strong support zone marked on the chart.
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Entry:
To capitalise on this bearish signal, we can consider going short once the close of a strong bearish candle is below the weak support level marked on the chart.
Stoploss:
To manage our risk, we can place a stoploss above the weak support level.
Target:
Our profit target can be set near the next strong support zone marked on the chart.
If you find this analysis helpful, please consider liking and following me for more insights and trading ideas. Thank you.