The overbought condition on any technical parameter hints at the possibility of a correction going ahead. Hence, It is advisable to book profit and buy again at lower levels, if the technical and fundamentals of the company remain robust.
Despite being in the overbought terrain, there could be a few stocks that continue to hold positive strength if the fundamentals of the company are robust and there is a genuine demand for its stock as indicated by the trading volume. Typically, these stocks manage to absorb all the selling pressure without any major correction. Such stocks are expected to
Despite being in the overbought terrain, there could be a few stocks that continue to hold positive strength if the fundamentals of the company are robust and there is a genuine demand for its stock as indicated by the trading volume. Typically, these stocks manage to absorb all the selling pressure without any major correction. Such stocks are expected to