Indiabulls Housing Finance, Tata Motors and Reliance Industries have been in news for different reasons in August. These stocks have been showing amazing trending moves in either direction.
By applying concepts like time cycles, channels and indicators like RSI or the relative strength index, one can still derive amazing trades from these stocks.
The most important thing to note is that long positions should be created on stocks that move from the bottom left corner to the top right, which means it is in an uptrend and short positions can be created in stocks that move from the top left corner to the bottom right which means it is in a downtrend. This is the most basic principle which I use for my proprietary trades.
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