If the stock manages to achieve a strong breakout from this zone, there is a potential opportunity for it to reach a price of 66.
DineshTradZ
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The RSI indicator is in the overbought zone right ? do we have to consider this, What should be our inference on this. Please explain
TheTradingEra1
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@DineshTradZ at a retest it will saturate and rsi will become normal and again it will rally up. Lets see how it goes. RSI overbought doesn't always mean that it will go down but sometime it also mean to take rest. see example of railtel, atgl. I bought ATGL on nov when it was overbought yet gave me 110% return and it was still on overbought zone.