Tech View: Nifty RSI hints at overbought zone. What traders should do next?
Fri, Dec 15, 2023 6:24 PM

Tech View: Nifty RSI hints at overbought zone. What traders should do next?

A Flip by Avya Verma
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Nifty on Friday ended 274 points higher to new lifetime high highs and formed a green candle on the daily and weekly charts.Further upsides are likely once the immediate resistance of 2,1492 is taken out. Caution is however warranted for the near term as the 14-day RSI at 84.93 is in overbought territory. Thus, any short-term corrections can be utilized to buy into quality stocks.

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