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The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is commonly used to assess whether a stock is overbought or oversold. RSI values above 70 suggest that a stock may be overbought, potentially indicating an impending price correction. Conversely, RSI values below 30 indicate that a stock might be oversold, presenting a potential buying opportunity.
10 Stocks with Overbought Conditions and Bearish RSI Signals
1) GMM Pfaudler Ltd. (NSE: GMMPFAUDLR) – RSI: 69.83, Prev. RSI: 75.39
2) E.I.D. – Parry (India) Ltd. (NSE: EIDPARRY) – RSI: 69.73, Prev. RSI: 72.95
3) Welspun Corp Ltd. (NSE: WELCORP) – RSI: 69.15, Prev. RSI: 70.13
4) BSE Ltd. (NSE: BSE) – RSI: 69.1, Prev. RSI: 73.95
5) Praj Industries Ltd. (NSE: PRAJIND) – RSI: 68.91, Prev. RSI: 71.22
Shree Cement Ltd. (NSE: SHREECEM) – RSI: 68.77, Prev. RSI: 77.74
Axis Bank Ltd. (NSE: AXISBANK) – RSI: 68.76, Prev. RSI: 70.27
Bharat Forge Ltd. (NSE: BHARATFORG) – RSI: 68.43, Prev. RSI: 72.94
Aurobindo Pharma Ltd. (NSE: AUROPHARMA) – RSI: 68.33, Prev. RSI: 70.88
Gillette India Ltd. (NSE: GILLETTE) – RSI: 68.18, Prev. RSI: 73.56
Data related to stocks with bearish RSI signals in the overbought zone on September 20, Wednesday, will be updated later today.
(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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