Craftsman Automation, Piramal Raymond among 10 stocks with bearish RSI

economictimes.indiatimes.com:

Relative Strength Index (RSI). When a stock is trading in the overbought zone but exhibits a bearish or declining RSI trend, it can serve as a cautionary signal. In this article, we explore the concept of RSI, its significance in analyzing stock trends, and delve into the top 10 stocks, carefully selected by ETMarkets, that are currently trading in the overbought zone with bearish RSI trends, based on data sourced from StockEdge on July 28, Friday.

The RSI is a popular technical indicator used by traders and investors to evaluate the momentum and strength of a stock's price movement. It ranges from 0 to 100, with readings above 70 suggesting an overbought condition and readings below 30 indicating an oversold condition. RSI is an essential tool for identifying potential price reversals and assessing a stock's overall health.

ETMarkets Report: Top 10 Stocks in Overbought Zone with Bearish RSI Trend: On July 28, Tuesday, StockEdge reported a total of 18 stocks trading in the overbought zone with a bearish or declining RSI trend. After thorough analysis, ETMarkets identified and selected 10 stocks that are currently exhibiting this trend. Here are the chosen stocks: 1) Shyam Metalics And Energy Ltd.

— RSI: 68.84 | Prev. RSI: 79.18 2) Adani Green Energy Ltd. — RSI: 68.65 | Prev.

RSI: 76.51 3) Ashok Leyland Ltd. — RSI: 68.05 | Prev. RSI: 76.32 4) Samvardhana Motherson International Ltd.

— RSI: 67.73 | Prev. RSI: 84.26 5) Raymond Ltd. — RSI: 67.65 | Prev.

RSI: 70.98 6) IIFL Finance Ltd. — RSI: 67.62 | Prev. RSI: 79.12 7) Piramal Pharma Ltd.

— RSI: 67.31 | Prev. RSI: 75.39 8) Tata Motors Ltd. — RSI: 66.88 | Prev.

RSI: 74.48 9) Home First Finance Company India Ltd. — RSI: 66.85 | Prev. RSI: 73.69 10) Craftsman Automation Ltd.