Shabbir KayyumiRSI stands for Relative Strength Index. It is a momentum oscillator used to identify trend reversal. RSI was invented by Welles Wilder Junior. The default look-back period for RSI is 14, however, this can be lowered to increase sensitivity and vice versa. RSI calculates strength of stock trend and helps to predict their reversals.Why to Buy State Bank of India (SBIN)?Close There are a lot of trading strategies using RSI; below mentioned is one of the most popular among the trading community which involves buying after completing retracement for higher movement; however, the support of another momentum oscillator, stochastic, can give additional support.Shabbir KayyumiHead of Technical & Derivative Research|Narnolia Financial Advisors ‘Nifty may move towards 12,200 in coming days; bet on these 3 stocks for double-digit returns’Inverse Head & Shoulder Pattern suggests buying PNBWith bullish bias to continue in medium term, bet on these 3 stocks for 15-18% returnIn the last few sessions, RSI had a breakout trading above 50 levels from below and made a high of 75 then after it is trading lower or retracing towards the centerline placed at 50 levels. This behaviour is called ‘RSI PBB’ setup. RSI PBB is pull back buy setup, which indicates once… Read full this story
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