CUMMINSIND – THE RSI IS SHOWING OVERBOUGHT STATUS. WHEN RSI MOVES DOWNWARD BELOW 70 MARK SHORT POSITION CAN BE CREATED. PLEASE REFER THE ATTACHMENT. THE ENTRY PRICE, STOPLOSS AND TARGET WILL BE AS INDICATED IN THE CHART ENCLOSED. DURATION CAN BE ONE WEEK,
CUMMINSIND -OVERBOUGHT
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Stock Analysis
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Hi sir,
your observation is good, but now it is not overbought only when the RSI trend bends to cut 70 mark it is overbought.
When it is above 70 mark and it is expected to come down it is overbought position. However short position can be created when it moves below 70 mark