Three-push-and-tick-divergences-signal-likely-intraday-top

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I wanted to give a quick mid-day update on the current RELiance Infra. Let’s take a look:

There are some quick lesson to learn.

First, let me say this is an afternoon update and there is still over an hour until the close, but for what we’re seeing right now, it would appear odds favor the intraday high has been made… or at least that a significant new high is a lower probability outcome.

As soon as Reliance Infra making the top of 1150 of intrady , we can clearly see the 3/10 PPO is giving negative divergences where you can take short positions.

Graducally , from white line you can see there many negative divergences created and prices move down..

There’s certainly no guarantee price will inflect downward off these levels, but the odds certainly favor a continuation downward move… or at least that reward remains to the downside while reward remains to the downside from a strictly technical (chart) perspective.

Be safe out there and please check back for more updates.

Thanks,

Bhupesh