Overbought stocks: Patanjali Foods, V-Guard Industries among 10 stocks trading above RSI of 70

economictimes.indiatimes.com:

overbought zone and discuss the importance of assessing stock movement based on RSI. On July 3, Monday, StockEdge reported 82 stocks trading in an overbought zone, and ETMarkets has handpicked 10 stocks from this group for further analysis. It's important to note that the data pertaining to stocks trading in an overbought zone on July 4, Tuesday, will be updated later today after market hours.

The Relative Strength Index (RSI) is a widely used technical indicator that measures the magnitude and velocity of price movements. Ranging from 0 to 100, RSI values above 70 indicate overbought conditions, suggesting that the stock may be due for a potential price correction or consolidation. RSI values below 30, on the other hand, indicate oversold conditions, signaling a possible rebound in price.

Assessing stock movement based on RSI is crucial because it helps investors identify potential turning points in the market and make informed decisions.Exploring Stocks in the Overbought Zone:1) JBM Auto Ltd.RSI: 87.42 Prev. RSI: 86.032) L&T Finance Holdings Ltd.RSI: 84.64 Prev. RSI: 78.763) Patanjali Foods Ltd.RSI: 82.94 Prev.

RSI: 82.554) V-Guard Industries Ltd.RSI: 82.79 Prev. RSI: 80.365) Blue Dart Express Ltd.RSI: 80.75 Prev. RSI: 80.336) Exide Industries Ltd.RSI: 80.72 Prev.

RSI: 78.937) Interglobe Aviation Ltd.RSI: 80.35 Prev. RSI: 79.728) BSE Ltd.RSI: 80.27 Prev. RSI: 68.29) Angel One Ltd.RSI: 79.82 Prev.

RSI: 78.1510) Godrej Agrovet Ltd.RSI: 79.57 Prev. RSI: 65.84 (Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own.