MMTC, BSE among 10 overbought stocks with RSI above 70
Relative Strength Index (RSI). On September 6, Wednesday, our data from StockEdge revealed that over 100 stocks were trading in an overbought zone. ETMarkets, however, has handpicked 10 stocks from this list that deserve a closer look.
RSI is a momentum oscillator that measures the speed and change of price movements.
It ranges from 0 to 100 and is used to identify overbought or oversold conditions in a stock. An RSI above 70 typically indicates that a stock is overbought, suggesting that it may be due for a price correction. Conversely, an RSI below 30 suggests that a stock is oversold and could be a buying opportunity.
The Overbought Lineup:
1) MMTC Ltd.
(RSI: 88.92, Prev. RSI: 87.17)
2) BSE Ltd. (RSI: 88.87, Prev.
RSI: 88.27)
4) Vodafone Idea Ltd. (RSI: 81.39, Prev. RSI: 75.99)
5) Persistent Systems Ltd.
(RSI: 82.71, Prev. RSI: 82.26)
6) Dalmia Bharat Ltd. (RSI: 82.63, Prev.
RSI: 80.6)
7) NBCC (India) Ltd. (RSI: 82.38, Prev. RSI: 82.21)
Keywords: NBCC (India) Ltd., RSI, Investment Insights
8) Maharashtra Scooters Ltd.
(RSI: 82.1, Prev. RSI: 93.12)
9) GMM Pfaudler Ltd. (RSI: 81.84, Prev.
RSI: 78.67)
10) NMDC Ltd. (RSI: 81.72, Prev. RSI: 84.84)
Keywords: NMDC Ltd., RSI, Market Analysis
It's essential to note that the stock market is dynamic, and trends can change rapidly.
The data pertaining to stocks in the overbought zone on September 7, Thursday, 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 own. These do not represent the views of the Economic Times)
