Coal India, TVS Motor among 10 overbought stocks with RSI above 70
Relative Strength Index (RSI), a technical indicator that aids investors in understanding a stock's momentum and potential future movements. On October 12, ETMarkets pinpointed 10 stocks that were in the overbought zone, and we'll explore why these stocks are generating interest and what RSI has to say about them.
The Relative Strength Index (RSI) is a technical indicator that ranges between 0 and 100. It evaluates the speed and change of price movements, making it a handy tool for assessing a stock's overbought or oversold conditions.
Here's how RSI works:
An RSI value above 70 typically suggests that a stock may be overbought, potentially signaling an upcoming price correction. An RSI value below 30 generally indicates that a stock may be oversold, hinting at a potential price increase.
Exploring 10 Overbought Stocks
On October 12, 10 stocks were identified as overbought, indicating strong buying interest. Let's take a closer look at these stocks:
1) Nippon Life India Asset Management Ltd.
RSI: 83.53
Prev.
RSI: 72.78
2) Kaynes Technology India Ltd.
RSI: 82.54
Prev. RSI: 81.55
3) Solar Industries India Ltd.
RSI: 78.48
Prev. RSI: 79.76
4) Safari Industries (India) Ltd.
RSI: 76.99
Prev.
RSI: 81.51
5) Prestige Estates Projects Ltd.
RSI: 76.22
Prev. RSI: 76.19
6) BSE Ltd.
RSI: 75.96
Prev. RSI: 77.28
7) PCBL Ltd.
RSI: 75.91
Prev.
RSI: 72.08
8) TVS Motor Company Ltd.
RSI: 75.31
Prev. RSI: 68.25
9) Coal India Ltd.
RSI: 74.76
Prev. RSI: 72.11
10) Vijaya Diagnostic Centre Ltd.
RSI: 74.51
Prev.
RSI: 64.19
(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)
