Comment on Indicators (Part 2)

Dhananjay Chaudhari commented on 02 Mar 2018, 01:49 AM

Also, i want your suggestions on this analysis..

IDBI BANK EOD CHART 01/03/2018
The candle has formed bullish marubozu at 80.25. The volume is at 65150780 shares for the day. I was unable to plot the S&R. The Bullish marubozu has formed after the formation of flag pattern in the stock for 3 consecutive days. The indicators, RSI is near Overbought at 62.33, MACD has a magnitude of 3.68 and the ADX is at 36.21.
Is this the right approach to look at the stock technically. I had an urge to qualify this from you though I have already went long. Many a times i a unable to plot S&R is their any simple idea to do so?

View the full comment thread »