We can use relative strength index for trading of shares. In Procter and Gamble, Share price is above Rs 11 315 when the RSI shows above 70, then this share can be purchased at this price. Sale price shall be when this price fall below 50 RSI. Sale price shall be Rs. 12,860
Procter and Gamble – Relative Strength Index.
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Stock Analysis
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Hi,
This is not an appropriate call if you took it as an RSI perspective. Read the below lines
One of the best ways to use the RSI is by determining whether the stock is overbought or oversold. This method is an easy way to identify buying and selling opportunities in non-trending markets. However, understanding the logic of overbought/oversold can help you better to master this technique.
Most of the traders while using RSI for creating long position make a big mistake of creating long position when the RSI levels falls to 30 levels but it is not the correct way of creating long positions because when the RSI levels falls below 30 it just indicates that, the sellers are aggressive in nature. The correct level for creating long position is when the RSI falls below 30 level and it starts to move above 30 level. The point from where it moves upwards from 30 level is the entry point for creating long positions. Only during the upside movement of RSI, we should create long position and not during downside movement.
Here also most of the traders using RSI for creating short position make a mistake of creating short position while the RSI levels reach to 70 levels but it is not the correct way of creating short positions because when the RSI levels move above 70 levels it just indicates that the buyers are aggressive in nature. The correct level for creating short position is when the RSI falls reaches 70 level and it starts to move below 70 level. The point from where it moves downwards from 70 level is the entry point for creating short positions. Only during the downside movement of RSI, we should create short position and not during upside movement.