EIH, Jyothy Labs among 10 overbought stocks with RSI above 70
Relative Strength Index (RSI). RSI is a powerful indicator that offers insights into a stock's momentum and potential trends. In this article, we'll delve into the importance of RSI and analyze 10 stocks that are currently trading in the overbought zone, as reported on September 1 by StockEdge.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements.
It provides a numeric value that ranges from 0 to 100, helping investors identify overbought and oversold conditions in a stock. Here's a quick rundown of RSI's utility:
RSI above 70: Typically indicates that a stock may be overbought, suggesting a possible price correction.
RSI plays a pivotal role in investment decisions for several reasons:
Exploring the Top 10 Overbought Stocks:
On September 1, StockEdge reported over 100 stocks in the overbought zone. Here are the top 10 overbought stocks that we've selected for further analysis:
1) Maharashtra Scooters Ltd.
(RSI: 90.20, Prev. RSI: 89.56)
2) BSE Ltd. (RSI: 86.34, Prev.
RSI: 83.32)
3) Linde India Ltd. (RSI: 85.72, Prev. RSI: 82.83)
4) Birlasoft Ltd.
(RSI: 84.92, Prev. RSI: 81.84)
5) EIH Ltd. (RSI: 83.60, Prev.
RSI: 75.42)
6) Jyothy Labs Ltd. (RSI: 82.24, Prev. RSI: 77.22)
7) DCM Shriram Ltd.
(RSI: 81.98, Prev. RSI: 65.65)
8) Archean Chemical Industries Ltd. (RSI: 81.63, Prev.
RSI: 85.35)
9) Bharat Heavy Electricals Ltd. (RSI: 81.54, Prev. RSI: 73.65)
10) Go Fashion (India) Ltd.
(RSI: 81.21, Prev. RSI: 80.36)
Data pertaining to stocks which are trading in an overbought zone on September 4, Monday will be updated later today after market hours.
(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their
