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Nifty Outlook & Know About Powerful Oscillator – Relative Strength Index

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Nifty Outlook & Know About Powerful Oscillator – Relative Strength Index Nifty Outlook & Know about Powerful Oscillator – Relative Strength Index 30th July, 2018 Relative Strength Index – Oscillator A Powerful Technical Tool • An oscillator is a technical analysis tool. An technical analyst bands an oscillator between two extreme values and then builds a trend indicator with the results. The analysts then use the trend indicator to discover short-term overbought or oversold conditions. • RSI- The relative strength index (RSI) is a technical indicator used in the analysis of financial markets. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. The indicator should not be confused with its relative strength, that is compared with other stocks, market indices, sectoral indices, etc. Computation • Focusing merely on trend of stocks or indices, RSI focuses on average gains and average losses for a specified time period. (Default parameters 14 days). To make sure that the RSI always moves between 0 and 100, the indicator is normalized later by using the formula given below • RSI: 100-[100/ (1+RS)] RS: AVG UPS/AVG DOWNS AVG UPS: TOTAL GAINS IN LAST 14 DAYS/14 AVG DOWNS: TOTAL LOSSES IN LAST 14 DAYS/14 • It helps especially at the top of the rally or at the bottom of the fall. • At the Top or Bottom, trend gives more weightage to sentiments than internal strength or weakness. 6899.85 Overbought- Reading of RSI above the level of 70 means over bought or strong grip of Bulls. BAJAJFINSV [N16675] 6899.85, -0.39% 4690.04 Price Lnr IRIS 07/08/17 Mon D 0 5775 Op 5310.80 Hi 5495.00 5700 Lo 5310.80 5625 Cl 5433.05 5550 • Reading of RSI above 70 means over bought or strong5500 grip of Bulls. 5475 5400 5325 5250 5175 5100 5100 5025 4950 4875 4800 4725 4650 4575 4500 4425 4400 4350 4275 4200 4125 4050 Source : www.SpiderSoftwareIndia.Com 3975 RSI(14,E,9) Rs 85.61 80.00 Rs 80.89 above 70 70.00 60.00 50.00 40.00 17:J 12 19 J 10 17 24 31 A 7 14 21 28 S 4 11 Dly Source - Spider Software Pvt LTD Oversold- Reading of RSI below the level of 30 means oversold or strong grip of bears. PNB [N10666] 85.90, 4.76% 135.91 Price Lnr IRIS 19/02/18 Mon 195 Op 122.00 Hi 123.50 190 Lo 113.55 Cl 116.50 • Rea. 185 180 175 170 165 160 155 150 145 140 140 135 130 125 120 115 110 95 105 100 95.00 Source : www.SpiderSoftwareIndia.Com 91 RSI(14,E,9) 85.90 Rs 22.54 60.00 Rs 32.58 50.00 40.00 Below 30 30.00 20.00 17:N D 4 11 18 18:J 8 15 22 29 F 5 12 19 26 M 5 12 19 26 A 9 Dly Source - Spider Software Pvt LTD Strong stocks hardly fall below the level of 35 BAJFINANCE [N317] 2685.05, -1.06% 1344.93 Price Lnr IRIS 07/11/17 Tue D 0 B 1:1 D 0 D 0 Op 1848.00 S 10:2 2685.052700 Hi 1848.00 Lo 1773.30 2600 Cl 1802.55 2500 2400 2300 2200 2100 2000 1900 1800 1700 1600 1500 1400 1300 1200 1100 1000 900 Source : www.SpiderSoftwareIndia.Com 800 RSI(14,E,9) 90.00 Rs 45.10 Rs 46.15 30 AND 35 - ABOVE OVERSOLD TERRITORY 82.50 75.00 67.50 60.00 52.50 DEC 2016 45.00 37.50 30.00 22.50 16:J A S O N D 17:J F M A M J J A S O N D 18:J F M A M J J Dly Source - Spider Software Pvt LTD 6 Weak stocks rarely crosses the level of 65-70. AXISBANK [N5900] 557.20, 0.71% 488.15 Price Lnr IRIS 21/04/17 Fri D 0 D 0 Op 492.00 Hi 497.00 Lo 483.30 620 Cl 486.25 600 580 560 557.20 540 520 500 480 460 440 Source : www.SpiderSoftwareIndia.Com RSI(14,E,9) Rs 39.82 78.00 Rs 47.03 OVERBOUGHT TERRITORY 65-70 72.00 66.00 JAN 2017 60.00 54.00 48.00 42.00 36.00 30.00 16:A M J J A S O N D 17:J F M A M J J A S O N D Dly Source - Spider Software Pvt LTD 7 Divergence- Divergent reading of oscillator relative to Price. • RSI efficiently helps to know whether the trend is shifting or not. • Positive Divergence: When RSI forms Higher bottom after hitting or breaking the level of 30. It gives bullish indication. • But combine with following studies to act on Positive Divergence. Reversal formation on price (Candlestick chart) And A break of trend line resistance 8 4466403 Positive Divergence. 210.60 HINDALCO [N1363] 210.60, -1.31% 0.00 Price 198.90Lnr IRIS 27/01/17 Fri Op 173.00 0 195 Hi 195.00 188 Lo 172.25 Cl 190.75 180 173 165 1 158 150 143 135 128 120 113 105 97.50 90.00 82.50 8 75.00 67.50 1 2 Source : www.SpiderSoftwareIndia.Com 2 60.00 RSI(14,E,9) 78.00 Rs 65.94 Rs 60.95 72.00 66.00 60.00 54.00 48.00 42.00 1 2 36.00 30.00 24.00 15 13:ND 14:J F M A M J J A S O N D 15:J F M A M J J A S O N D 16:J F M A M J J A S O N D 17:J Wkl 9 Source - Spider Software Pvt LTD 1016.90 Positive Divergence. GRASIM [N1232] 1016.90, -0.83% 0.00 Price Lnr IRIS 22/03/16 Tue 620 7 Op 612.00 Hi 617.99 615 Lo 611.15 610 Cl 613.53 605 600 595 590 585 580 575 570 565 560 555 550 545 540 535 Source : www.SpiderSoftwareIndia.Com 530 RSI(14,E,9) 70.00 Rs 71.07 Rs 63.98 65.00 60.00 55.00 50.00 45.00 40.00 35.00 30.00 25.00 15:SO N D 16:J F M Dly Source - Spider Software Pvt LTD 10 11287.45 Positive Divergence. NSE NIFTY [N59901]11287.45, 0.08% Price Lnr IRIS 8940 8880 8820 8760 8700 8640 35 8580 8520 8460 8400 8340 8280 8220 8160 8100 8040 7980 Source : www.SpiderSoftwareIndia.Com 7920 27 RSI(14,E,9) 72.00 66.00 60.00 54.00 48.00 42.00 36.00 30.00 24.00 16:A S O N 26 D 17:J F Dly Source - Spider Software Pvt LTD 11 Divergence- Divergent reading of oscillator relative to Price. • RSI efficiently helps to know whether the trend is shifting or not. • Negative Divergence: When RSI forms Lower top after hitting or crossing the level of 70. It gives bullish indication • But combine with following studies to act on Negative divergence. Reversal formation on price (Candlestick chart) And A break of trend line support 12 11287.65 Negative Divergence. NSE NIFTY [N59901]11287.65, 0.08% 0.00 Price Lnr IRIS 05/04/11 Tue Op 5923.85 6300 Hi 5928.65 Lo 5855.85 6240 Cl 5910.05 29 2 6180 6120 6060 1 6000 5940 5880 5820 5760 5700 5640 5580 5520 5460 5400 5340 34 5280 5220 Source : www.SpiderSoftwareIndia.Com RSI(14,E,9) Rs 71.09 28 1 78.00 Rs 64.82 2 72.00 66.00 60.00 54.00 48.00 42.00 36.00 30.00 10:J J A S O N D 11:J F M A Dly Source - Spider Software Pvt LTD 13 Negative Divergence. RAIN_T [N15337] 196.00, -2.39% Price Lnr IRIS D 0 460 440 420 6 400 380 360 340 320 300 280 260 240 220 196.00200 180 8 160 140 120 Source : www.SpiderSoftwareIndia.Com 100 RSI(14,E,9) 4 84.00 78.00 72.00 66.00 60.00 54.00 48.00 42.00 36.00 17:A M J J A S O N D 18:J F M A Dly Source - Spider Software Pvt LTD 14 Nifty outlook – Possibility of Symmetrical Triangle NSE NIFTY [N59901]11285.50, 5.33% 0.00 Price Lnr IRIS 30/07/18 Mon 11285.50Op 10732.35 11200 Hi 11309.35 14 Lo 10604.65 11000 Cl 11285.50 10800 11171 - 9951 = 1220 + 10600 10600 10400 TARGET 11820 10200 10000 36 9800 9600 9400 9200 9000 8800 8600 8400 8200 8000 7800 7600 7400 7200 7000 6800 6600 6400 6200 Source : www.SpiderSoftwareIndia.Com 12 6000 14:FM A M J J A S O N D 15:J M A M J J A S O N D 16:J M A M J J A S O N D 17:J M A M J J A S O N D 18:J M A M J J Mon Source - Spider Software Pvt LTD Question & Answer Queries should be specific to stock that are in FNO segment. 17 By referring to any particular sector, Kotak Securities Limited does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing.
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