Street signs: Stocks in 'overbought' zone, trading portals, and more

Stocks in ‘overbought’ zone

Following a 14 per cent jump in April, the markets have entered ‘overbought’ territory. According to derivatives analysts, the Nifty is expected to see downward pressure. Already, traders are a worried lot following a sharp drop in the SGX Nifty on Friday, when the domestic markets were shut for a holiday. The put-call ratio has climbed to an elevated level of 1.9, which is a negative sign, say experts. On the positive side, open interest (OI) at the start of the May series was at a record low of 9.6 million. Experts say low OI could help