#mymarkettips 07/09/2017 INTRADAY CALL SELL COAL INDIAL 255/- SL 257.10/- TRGT1 252.15/- TRGT2 249/-

#mymarkettips 07/09/2017 INTRADAY CALL SELL COAL INDIAL 255/- SL 257.10/- TRGT1 252.15/- TRGT2 249/-

#mymarkettips 07/09/2017 INTRADAY CALL SELL NMDC 134.75/- SL 135.90/- TRGT1 133.40/- TRGT2 132.50/-

#mymarkettips 07/09/2017 INTRADAY CALL SELL NMDC 134.75/- SL 135.90/- TRGT1 133.40/- TRGT2 132.50/-

#mymarkettips 06/09/2017 DUE TO PERSONAL EMERGENCY BLOG WAS NOT UPDATED...

#mymarkettips 06/09/2017 DUE TO PERSONAL EMERGENCY BLOW WAS NOT UPDATED...

"SECRET TO USE RSI IN INTRADAY TRADING" (Part I)

WHAT IS RSI?

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

HOW TO USE RSI IN INTRADAY?

RSI is one of the powerful indicators for DAY TRADER while taking intraday positions. Generally RSI is used to gauge the overbought and oversold levels. But actually earlier said RSI is MOMENTUM OSCILLATOR which helps the user to identify the momentum of script. In RSI there few levels are most important that are RSI@30 level RSI@50 level and RSI@70 level. Now RSI@50 level is the key level for all the script.

In recent time with support of trading software it is very easy to plot RSI on chart but crux of the indicator lies in the time frame in which it required to be used for most efficient result. Here we are talking from INTRADAY POINT, so in which time frame RSI can be used for efficient result is 5 min chart. RSI is such indicator that as per my view for DAY TRADER can be used only in 5 min chart for successful trade.

Now to prove my point will illustrate with actual trade data of 05/09/2017 of different SCRIPT.

Above chart is of SUNTV dated 05/09/2017 in 5 min timeframe with default setting of RSI plotted on chart. Here want to explain RSI@70 level that is important level to identify a share as overbought. We can see that SUNTV RSI is trading above level of 70 but when RSI shown above chart with GREEN LINE and RSI average shown in chart by RED LINE fall below the level of 70 one can take short position in SUNTV @ 834/- with strict stop loss just above of INTRADAY HIGH @ 839.50/- (Rs. 5.5/- Risk) now can set TARGET @ 828.50/-  according to risk reward ratio.

One can use above technique to take short position in any share with use of RSI and STOCHASTIC to double confirm the trade.

To Be Continued....

#mymarkettips 05/09/2017 INTRADAY CALL ASHOKLEY STATUS TRGT1 HIT.....

#mymarkettips 05/09/2017 INTRADAY CALL ASHOKLEY STATUS TRGT1 HIT.....

#mymarkettips 05/09/2017 INTRADAY CALL SELL ASHOKLEY 113.40/- SL 114.40/- TRGT1 112.15/- TRGT2 111.20/-

#mymarkettips 05/09/2017 INTRADAY CALL SELL ASHOKLEY 113.40/- SL 114.40/- TRGT1 112.15/- TRGT2 111.20/-

28 AUG TO 1 SEP 2017 WEEKLY PERFORMANCE