HCL Technologies, CBI among 10 overbought stocks with RSI above 70
Relative Strength Index (RSI) stands out as a valuable tool for assessing stock movement. Let's delve into RSI's significance and understand why it plays a crucial role in making informed investment decisions.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100, providing insights into whether a stock is overbought or oversold.
RSI values above 70 usually indicate that a stock may be overbought and could potentially experience a correction. Conversely, RSI values below 30 suggest an oversold condition, hinting at a possible buying opportunity.
10 Overbought Stocks Worth Watching
1) ITI Ltd. (NSE: ITI) — RSI: 88.32, Prev.
RSI: 88.98
2) Glaxosmithkline Pharmaceuticals Ltd. (NSE: GLAXO) — RSI: 83.00, Prev. RSI: 76.97
3) Tata Teleservices (Maharashtra) Ltd.
(NSE: TTML) — RSI: 81.82, Prev. RSI: 79.47
4) HCL Technologies Ltd. (NSE: HCLTECH) — RSI: 80.38, Prev.
RSI: 77.31
5) Central Bank Of India (NSE: CENTRALBK) — RSI: 79.68, Prev. RSI: 76.66
6) Grasim Industries Ltd. (NSE: GRASIM) — RSI: 78.61, Prev.
RSI: 74.06
7) Cholamandalam Financial Holdings Ltd. (NSE: CHOLAFIN) — RSI: 78.21, Prev. RSI: 84.82
8) Bajaj Auto Ltd.
(NSE: BAJAJ-AUTO) — RSI: 77.89, Prev. RSI: 63.78
9) Shree Cement Ltd. (NSE: SHREECEM) — RSI: 77.74, Prev.
RSI: 75.12
10) Suven Pharmaceuticals Ltd. (NSE: SUVEN) — RSI: 77.23, Prev. RSI: 65.55
Keep in mind that data regarding stocks trading in an overbought zone on September 18, Monday, will be updated later today after market hours.
(Disclaimer: This is an AI-generated article.
