This Post is for knowledge purpose.
Never take a trade based on oversold/overbought indicators. GTL Infra has been oversold on Daily charts but on oversold chart can go it more oversold levels. Till the pain is not over.
It all depends on Demand and Supply so learn it a lesson never belive on indicators in a Trending market.
Trade with trend.
So never be in a hurry to buy a Stock else people who had bought GTL Ltd on Friday must be having a hard time now.
Always trade with Levels/Trading System and Market is always Supreme.
Levels to watch tmrw
Sell below 124 TGt 115,110 and 100
Buy above 128 Tgt 135,142 and 153 SL 124
As soon as 882 Broke RIL just moved down rapidly till 850 levels give some quick money in such a small time frame.
Wait for Opportunity to come and capitalize on it.
TATA Motors was in a dream bull run from from 150 odd to rs 1400 levels. Every dip was bought as it never broke its 200 DMA in that run.
Trader should change it colors and trading patten as soon as charts changes the pattern
See the effect of 200 DMA on tat motors now the theme is to SELL ON RALLIES not BUY ON DIPS.