Pre & Post Budget movements are most rewarding if captured correctly. Since the last two budgets, we are seeing a sharp fall post budget. This time it seems, this may not repeat. Renko charts says so! The market may either continue its upward journey or may trade in a narrow range. So I will either suggest going long on NSE:NIFTY or just SELL PUT options of Nifty with a strike price of 11900 of 11th, 18th or 25th expiry!
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Wrong assessment! No reduction in corporate tax in today's budget spoiled the buyer's mood!
Hi Ranko Charts are price based movement chart , and RSI is Time based , i.e number of ranko bars in this case , when chart suggests price based movement then the time is ignored ( that is the Main Purpose for Ranko Chart Creation )
In this chart system the time is completely ignored and Momentum is also ignored due to its bar price is fixed , each bar represents the same price movement but the Momentum indicators are designed to calculate the difference between High , Low , close of Previous N number of Bar , here in case RSI is being used for 14 Period ,
so Momentum play very less significant when price charts are fixed price basis
In this chart system the time is completely ignored and Momentum is also ignored due to its bar price is fixed , each bar represents the same price movement but the Momentum indicators are designed to calculate the difference between High , Low , close of Previous N number of Bar , here in case RSI is being used for 14 Period ,
so Momentum play very less significant when price charts are fixed price basis
Good day