KPIT Technologies, Wipro among 10 stocks with RSI trending down
Relative Strength Index (RSI) is among many technical indicators which helps investors to gauge the movement of stocks and make informed decisions. On July 10, Monday, StockEdge reported that 37 stocks were trading with a declining RSI. ETMarkets has identified 10 stocks from that list, which are currently trading in an overbought zone.
The RSI is a popular technical indicator used to measure the magnitude and velocity of price movements in a stock. It provides a numerical value ranging from 0 to 100, indicating whether a stock is overbought or oversold. RSI is calculated based on the average gain and loss of a stock's closing prices over a specific period, usually 14 days.
A higher RSI value indicates that a stock is overbought, suggesting a potential reversal or correction in its price, while a lower RSI value suggests oversold conditions, potentially indicating an upward movement. When a stock enters the overbought zone, it implies that buying pressure has pushed its price to an unsustainable level, increasing the likelihood of a pullback. On the other hand, when a stock enters the oversold zone, it suggests that selling pressure has pushed the price too low, potentially indicating a buying opportunity.RSI can help investors identify potential trend reversals.The Top 10 Stocks with Falling RSI: 1) KPIT Technologies Ltd.
(RSI: 49.95, Prev. RSI: 54.81) 2) Trent Ltd. (RSI: 49.86, Prev.
RSI: 55.31) 3) Avenue Supermarts Ltd. (RSI: 49.68, Prev. RSI: 53.01) 4) Wipro Ltd.
(RSI: 49.63, Prev. RSI: 57.77) 5) Torrent Power Ltd. (RSI: 49.58, Prev.
RSI: 54.27) 6) Grindwell Norton Ltd. (RSI: 49.55, Prev. RSI: 54.54) 7) Vodafone Idea Ltd.
(RSI: 49.54, Prev. RSI: 51.16) 8) Sonata Software Ltd. (RSI: 49.37, Prev.
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