Overbought

RECENT NEWS
The Economic Times  Nov 6  Comment 
Bulls have a strong hold on the market and the Nifty is consistently passing all level.
The Economic Times  Nov 6  Comment 
Watch out for 10,465 and 10,510 levels. Supports should come in at 10,375 and 10,350 levels.
MarketWatch  Oct 23  Comment 
So where are we on the Dow in terms of RSI at the moment? A whopping 87.61, which is higher than 99.999% of all readings going back to 1900, according to Charlie Bilello, director of research at Pension Partners. In fact, only eight trading days...




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In Technical Analysis, overbought describes a situation in which the price of a security has risen to such a degree, usually because of unusually high volume, that an oscillator has reached its upper bound. This is most often interpreted as a sign that the price of the asset is becoming overvalued and may experience a pullback soon.

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