Maruti Suzuki, Nazara Technologies among 5 stocks with RSI trending down
Relative Strength Index (RSI) emerges as a vital compass, offering insights into the momentum and strength of a stock's price movement.
The Relative Strength Index (RSI) is a momentum oscillator that gauges the magnitude and velocity of recent price changes. Oscillating between 0 and 100, RSI helps identify overbought or oversold conditions, offering investors a lens into potential reversals or continuations in stock prices.
Overbought and Oversold Conditions: RSI above 70 indicates overbought conditions, suggesting a potential pullback, while RSI below 30 signals oversold conditions, hinting at a possible upward correction.
Spotlight on Downtrending RSI: ETMarkets' Selections
On November 13, Monday, StockEdge revealed a sea of stocks witnessing a downtrend in RSI, signaling potential shifts in their momentum.
ETMarkets zeroes in on 5 stocks from this pool, offering investors a closer look at opportunities amidst the ebbing RSI tide:
1) Sheela Foam Ltd.
RSI: 49.98
Previous RSI: 52.42
2) Ingersoll-Rand (India) Ltd.
RSI: 49.97
Previous RSI: 54.71
3) Maruti Suzuki India Ltd.
RSI: 49.74
Previous RSI: 51.45
4) General Insurance Corporation of India
RSI: 49.7
Previous RSI: 52.26
5) Nazara Technologies Ltd.
RSI: 49.66
Previous RSI: 52.75
Data pertaining to stocks whose RSI was trending down on November 15, Wednesday will be updated later today after market hours.
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(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)
