General Trading Chat

Dear Sir, on 30 and 60 TF nifty was oversold and hitting lower BB when it was 7405. Till the close of day they are still moving towards over bought zone, I thought it will still have steam left for tomorrow? How to arrive that Market is moving on euphoria and not on these technicals.
Sorry your question is not clear but let me give my views.

The current downmove was in the form of a correction in the ongoing uptrend. 30 min stochastics stayed below 30 line for 13 bars and then moved up along with the prices and now in over bought zone....I expect some more steam on the upside tomorrow.Market never moves on technicals...technicals follow the market moves.

ST
 

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