Castrol India, Aurobindo Pharma among 10 stocks with RSI trending down
Relative Strength Index (RSI). RSI is an indispensable indicator that provides insights into a stock's momentum and potential trends. In this article, we will delve into why RSI is essential and analyze 10 stocks that experienced a decline in their RSI, as reported on September 1 by StockEdge.
The Relative Strength Index, commonly known as RSI, is a momentum oscillator that measures the speed and change of price movements.
RSI values range from 0 to 100 and are used to identify overbought or oversold conditions in a stock. Here's a brief overview of how RSI works:
RSI above 70: Typically indicates that a stock may be overbought and could face a price correction. RSI below 30: Suggests that a stock may be oversold, indicating a potential buying opportunity.
Exploring the Top 10 Stocks with RSI Trending Down:
On September 1, StockEdge reported 15 stocks with RSI trending down.
We've picked the top 10 for further analysis:
1) Colgate-Palmolive (India) Ltd. (RSI: 49.98, Prev. RSI: 50.59)
2) Castrol India Ltd. (RSI: 49.65, Prev.
RSI: 53.06)
3) Triveni Turbine Ltd. (RSI: 49.41, Prev. RSI: 51.29)
4) Aurobindo Pharma Ltd. (RSI: 49.23, Prev. RSI: 51.63)
5) Ipca Laboratories Ltd. (RSI: 49.08, Prev.
RSI: 51.87)
6) Nocil Ltd. (RSI: 48.77, Prev. RSI: 53.08)
7) Poonawalla Fincorp Ltd.
(RSI: 48.57, Prev. RSI: 52.08)
8) Orient Electric Ltd. (RSI: 48.21, Prev. RSI: 54.20)
9) Glenmark Pharmaceuticals Ltd.
(RSI: 47.88, Prev. RSI: 51.22)
10) Fortis Healthcare Ltd. (RSI: 47.61, Prev.
RSI: 54.98)
(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)
