Explaining concept of RSI with respect EMA.

17 août

The NIFTY50 is currently displaying a bullish setup, characterized by the formation of a ‘W’ pattern on the chart. This structure is further supported by a strengthening Relative Strength Index (RSI), which indicates improving momentum. Additionally, the price action is aligning positively with the EMA20, reinforcing the potential for an upward move. Together, these technical signals suggest that NIFTY50 may experience bullish momentum in the near future.

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I, the author of this report, and my immediate family members do not have any financial interest or beneficial ownership in the securities mentioned herein at the time of publication.

18 août

Note

A ‘W’ pattern shows that buyers are stepping in after the market has tested lower levels twice. When the price breaks above the middle peak (neckline), it usually moves up by the same height as the pattern. Once this target is reached, the W pattern is considered complete.