RSI bullish divergence
Price near a two-month low while RSI sits at least three points above where it was a month ago. The selling is running out of momentum before it runs out of price.
A regular bullish divergence is price making a lower low while RSI makes a higher low. The second leg down covered as much ground as the first with less force behind it. The textbook version needs two swing lows identified and compared, which a single-bar scan cannot do, so this approximates it with offsets: today's low within 3% of the two-month low, and RSI at least three points above where it stood twenty sessions ago, when the earlier low was most likely forming. The cap at 45 keeps the list to stocks whose momentum is still depressed. A divergence that has already resolved into RSI 60 is a past event. Treat what comes back as a candidate list. Divergences can persist through several more lows before a turn, and the honest next step is the hit-rate replay. Read the guide: RSI divergence screener for NSE stocks →
More reversals:RSI oversold turning upRSI overboughtGolden crossDeath crossMACD bullish crossover
Price and delivery data from the eod2 dataset: National Stock Exchange of India end-of-day files, split- and bonus-adjusted, updated after each close. Not affiliated with or endorsed by NSE. PatternsRadar is a research tool. Nothing here is investment advice or a recommendation to buy or sell anything.