RSI Divergence in Cipla!!

15 Tem 2021

The price action/behavior in Cipla shows that the buyers are strong and have been pushing the price higher which should result in a breakout . There have been multiple retests on the resistance zone / the supply zone . However , RSI shows a clear divergence or in simple words , RSI is making lower highs . Hence it would not be advisable to take a position in Cipla at this moment . Only if RSI shows and up move with strong buyers , price gives a breakout with good volumes , then only one should go long.