When we roll up to monthly candlestick chart then we see RSI at 80 - Overbought zone. Further, CMP is about 10% higher than its 20DEMA on a monthly chart. How do we consider these indications in the light of forecasted up move?
@datepuru, Namaskaram, we do not consider indicators, we might see selling at higher levels of 564/83, which you are trying to forecast from the past few weeks. If doesn't move as expected than will sell only below 515 or if not sure whether it will move up, then will sell at higher levels of 564/83.