Canara Bank, LIC among 10 stocks with RSI trending up
Relative Strength Index, commonly known as RSI, is a momentum oscillator used in technical analysis to measure the speed and change of price movements. It ranges from 0 to 100 and is typically used to identify overbought or oversold conditions in a stock. Here's why RSI is crucial for investors:
RSI values above 70 indicate that a stock may be overbought, suggesting that it could be due for a price correction.
Conversely, RSI values below 30 suggest that a stock may be oversold, indicating a potential buying opportunity. RSI can help confirm the strength of a trend. When a stock is in an uptrend, RSI values above 50 reinforce the bullish sentiment, while RSI values below 50 during a downtrend confirm bearish sentiment.
Now, let's take a closer look at ten stocks that were trending up, based on their RSI values, as reported on September 4, Monday:
1. IDBI Bank Ltd.
RSI: 64.88
Prev.
RSI: 47.14
2. Nuvoco Vistas Corporation Ltd.
RSI: 59.02
Prev. RSI: 49.14
3. Carborundum Universal Ltd.
RSI: 58.24
Prev.
RSI: 47.45
4. Canara Bank
RSI: 57.8
Prev. RSI: 49.99
5. Bombay Burmah Trading Corporation Ltd.
RSI: 57.55
Prev.
RSI: 40.5
6. Life Insurance Corporation of India
RSI: 57.45
Prev. RSI: 49.65
7. Aditya Birla Sun Life AMC Ltd.
RSI: 55.34
Prev.
RSI: 46.89
8. Bank Of Baroda
RSI: 54.97
Prev. RSI: 47.13
9. PNC Infratech Ltd.
RSI: 54.59
Prev.
RSI: 47.12
10. Power Finance Corporation Ltd.
— RSI: 54.26
— Prev. RSI: 47.03
Please note that data pertaining to stocks with RSI trending up on September 5, Tuesday, will be updated later today, so it's essential for investors to stay updated on these stocks' performance.
(Disclaimer: This is an AI-generated article.
