Business Standard

Street Signs: Nifty50 enters 'overbought' zone, Indigo may gain altitude

The stock of IndiGo airlines' parent company, Interglobe Aviation, posted one of its longest winning streaks this week

Nifty50, nifty
Premium

Samie ModakSundar Sethuraman Mumbai

Listen to This Article

Nifty enters ‘overbought’ zone
 
Going ‘long’ is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. “With the Nifty50 surging to  new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out. Caution is, however, warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. But the 14-week RSI is at 75.87, which implies that it is

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in