PNB, TCS among 10 stocks trading with bearish RSI
Relative Strength Index (RSI). On September 21, Thursday, StockEdge identified 19 stocks that found themselves in the overbought zone but exhibited bearish or declining RSI trends. ETMarkets has sifted through this list to bring you 10 intriguing stocks worth exploring.
Before we dive into the stocks, let's grasp the concept of RSI.
The Relative Strength Index is a momentum oscillator that measures the speed and change of a stock's price movements. RSI values range from 0 to 100, with readings above 70 typically indicating that a stock is overbought, while readings below 30 suggest that it may be oversold.
Now, let's explore the 10 stocks that are currently in the overbought zone but exhibit bearish RSI trends:
1) Punjab National Bank (PNB)
RSI: 69.75
Previous RSI: 75.47
2) Bajaj Auto Ltd. (BAJAJ-AUTO)
RSI: 68.86
Previous RSI: 79.49
3) Glaxosmithkline Pharmaceuticals Ltd.
(GLAXO)
RSI: 67.97
Previous RSI: 72.05
4) Tata Consultancy Services Ltd. (TCS)
RSI: 67.17
Previous RSI: 71.83
5) Central Bank Of India (CENTRALBK)
RSI: 67.06
Previous RSI: 73.65
6) HCL Technologies Ltd. (HCLTECH)
RSI: 66.47
Previous RSI: 74.03
7) ITI Ltd.
(ITI)
RSI: 66.3
Previous RSI: 73.46
8) TVS Motor Company Ltd. (TVSMOTOR)
RSI: 65.66
Previous RSI: 70.24
9) Gillette India Ltd. (GILLETTE)
RSI: 65.24
Previous RSI: 70.25
10) Apar Industries Ltd.
(APARINDS)
RSI: 65.19
Previous RSI: 77.7
Data concerning stocks with bearish RSI trends while being in the overbought zone on September 22, Friday, will be updated later today.
(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)
