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Oversold /Overbought

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 In oversold- on any time frame. Sentiment are weak. Fear. Market in doldrums. mindset. Feeling of unlikely to recover - deeper deeper levels- pessimistic mindset develops In Oversold drag continues down. Later develop positive divergence and still some drag down till reversal is not witnessed by lower top cross over Oversold on hourly oversold happens frequently. Oversold Daily may be once in 2-3 months Oversold and Oversold Exit becomes opportunity. In Oversold good to get ETF or index based stock. In Oversold Exit good for trading pullback or new trend in that time frame Overbought is euphoria and over optimism. Generally, lead to fall towards oversold. 
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NF and BNF observations

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  NF and BNF Observations Trend line support held at closing. Yesterday was In Bar above the trend line. Pullback towards the red line resistance gap. Higher low and higher high seen on Monday over Friday then expect swing bottom for pullback attempt to the resistance gap. The resistance of 2-day high is 19647 and then the gap of 19760-19812. Support will be at 19468-19390. On fall and close below 19390 with bearish candle expect the lower gaps to be tested. Lower Gaps-19302-19261, 19082-18966 and 18845-18811 Dynamic Trend- Red Color- Down Trend. Diamond on red color is minor intra-day pullback. On Green candle are minor correction in up trend. BNF dynamic trend down. Friday was higher low and higher high but candle not convincing therefore need another higher low and higher high with bullish candle.  Therefore diamond. Further selling is below 44875. From trading point of view objective can be to cover short at S1-44672 - from cmp-45001 to 44672. R1-R2(R3) to be tested-45279-...
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POWER OF RSI

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  This is absolute power of rsi : normal rsi red, blue, green= new uptrend begins green, blue = up trend as long as red is not witnessed green blue, red= new down trend begins. red, blue = down trend as long as green is not witnessed
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