Overbought stocks: Hindustan Zinc, Titan among 10 stocks trading above RSI of 70
Relative Strength Index (RSI) and explore 10 stocks that are currently in the overbought zone, potentially signaling overvaluation. The RSI is a widely used technical analysis indicator that helps measure the strength and momentum of a stock's price movements. RSI is represented on a scale of 0 to 100 and is calculated based on the average gains and losses of a stock over a specified time period, typically 14 days.
RSI values above 70 are generally considered to be in the overbought zone, indicating a potential price correction or reversal in the near future.10 stocks in Overbought zone:1) Olectra Greentech Ltd. (RSI: 89.23, Prev. RSI: 80.68):Olectra Greentech Ltd., a leading player in the electric mobility and renewable energy sector, has entered the overbought zone based on its high RSI value.2) BSE Ltd. (RSI: 84.69, Prev. RSI: 84.5):BSE Ltd., one of India's premier stock exchanges, has shown a high RSI value, indicating potential overvaluation.3) Hindustan Zinc Ltd. (RSI: 83.49, Prev. RSI: 81.64):Hindustan Zinc Ltd., a major player in the metal and mining sector, has entered the overbought zone with a relatively high RSI.4) Exide Industries Ltd. (RSI: 83.37, Prev. RSI: 84.32):Exide Industries Ltd., a renowned manufacturer of automotive and industrial batteries, has demonstrated an elevated RSI, suggesting potential overvaluation.5) Mahindra & Mahindra Ltd. (RSI: 83.29, Prev. RSI: 82.19):Mahindra & Mahindra Ltd., a prominent player in the automotive sector, has entered the overbought zone based on its RSI value.6) Sunteck Realty Ltd. (RSI: 82.89, Prev. RSI: 67.05):Sunteck Realty Ltd., a leading real estate developer, has shown a significant increase in RSI, indicating potential overvaluation.7) Titan Company Ltd. (RSI:
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