From the chart of 1 hour of Axis bank, and by using RSI, we can confirm that the RSI is taking reversal, which implies from RSI Chart that it is a negative divergence. If RSI Cuts the 56-57 levels, we can short axis bank. We can confirm the shorting with the nifty bank charts as similar patterns are watched on 1 hour chart of Nifty bank, negative divergence. So, wait for confirmation and then trade.
Do support me, and comment if you like the idea. Thank you.
Do support me, and comment if you like the idea. Thank you.
Note
Also, we can see Double top pattern is forming in Axis bank chart. So keep watching fro any confirmation.Note
After forming double top, axis bank gave 9-10 points for shorting. It went down till 393 from 403. Now wait for RSI negative divergence confirmation. You can get good points for shorting.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.