pradipandsuvra

Precision Wire: Rounding bottom with momentum and volume

做多
NSE:PRECWIRE   PRECISION WIRES IN
PRECWIRE has the follow features:

  • A clear rounding bottom consolidation
  • Then a breakout with a green hollow candle.
  • Volume is higher than average (vwma)
  • RSI is entering into 70 (OB) zone.
  • BUT See the price made a higher high compared to 10th Nov candle, but RSI is low compared to 10th Nov. So, a weaker negative divergence may be forming.

Trade: Buy above 116, SL: 107, T: 121/126
Sell below 107, SL: 110, T: 100/96

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