Technical Analysis of Indian Equities by Nooresh

Dow Jones – Highly Oversold and a Buy Opportunity

We have seen a 1000 point + correction on Dow Jones.

Its trading close to its 200 dema but more importantly has hit RSI oversold zones.

Previous such RSI transitions have led to a strong bounce.

Also further dips will take it to trendline/channel supports.

One can spread out the buying from current levels or get in slowly in dips to 15000-15300. A reversal above any days highs on hourly basis could also be a turnaround signal.

 

 

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

Twitter – https://twitter.com/nooreshtech

Facebook – https://www.facebook.com/nooreshtech

Article by Nooresh Merani

Nooresh has written 2613 articles.

You can follow Nooresh Tech on Facebook and Twitter here.


{ 0 comments… add one }

Leave a Comment