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The ULTIMATE Indicator - ‘RELATIVE STRENGTH (RS)’!
It is NOT your typical RSI…🤓
...but a crucial tool that can transform your trading/investing approach!
Let's unpack it using the #TATASTEEL chart...📈
Let’s go 🧵…
It is NOT your typical RSI…🤓
...but a crucial tool that can transform your trading/investing approach!
Let's unpack it using the #TATASTEEL chart...📈
Let’s go 🧵…
1⃣ But, how will it change the way I trade?
- Ever wondered why the stock you are holding is not moving when the market is ripping higher?
Ex: ITC didn't move btwn June’20 & Feb’22 while the market rallied
This indicator will help you get rid of such underperforming stocks.
- Ever wondered why the stock you are holding is not moving when the market is ripping higher?
Ex: ITC didn't move btwn June’20 & Feb’22 while the market rallied
This indicator will help you get rid of such underperforming stocks.
2⃣ ok, what’s RS?
When stock A goes...
- up faster than Nifty, it is STRONG/OUTPERFORMING relative to Nifty
- down faster than Nifty, it is WEAK/UNDERPERFORMING relative to Nifty
So, RS is relative performance of a stock compared to any benchmark (refer chart for example)
When stock A goes...
- up faster than Nifty, it is STRONG/OUTPERFORMING relative to Nifty
- down faster than Nifty, it is WEAK/UNDERPERFORMING relative to Nifty
So, RS is relative performance of a stock compared to any benchmark (refer chart for example)
Just scanned the stocks in the pullback scanner and there are just too many stocks looking good. I will post a few charts in this thread. #pullbacktrades
Buy suggested above green line with a stop at the red line for all stocks. All are 2 hourly charts #Marksans #ECLERX #NAVINFLOUR #NATCOPHARMA The only way to learn trendlines is to draw and practice them over 1000s of charts.
#ESSELPACK #CAMLINFINE #JINDALPOLY #MCX It is very important to take the trade only on breakouts. Many pullbacks can fail. Though there are many more, will stop here. If you wanna learn trendlines take these charts and try drawing them again and observe the price and trendlines.
Eclerx not performing, close below 380 will be a clear exit..#ecelrx #trendlines #investing #Monthlycharts
Eclerx didnt close below 380 and above 500. #ecelrx #trendlines #investing #Monthlycharts
Tip: Long term investing using technical analysis is all about patience, entry and riding it with good money management and trailing SL.
Tip: Long term investing using technical analysis is all about patience, entry and riding it with good money management and trailing SL.
