Suzlon Energy, Central Bank among 10 overbought stocks with bearish RSI
Relative Strength Index (RSI) is a technical indicator which gauges stock movement and assists investors in making informed decisions. On July 10, Monday, StockEdge reported that 27 stocks were in the overbought zone but witnessed a bearish or declining RSI. From this group, ETMarkets has handpicked 10 stocks that continue to trade in the overbought zone.
The RSI is a widely-used technical indicator that measures the strength and velocity of price movements in a stock. It provides a numerical value ranging from 0 to 100, indicating whether a stock is overbought or oversold. RSI is calculated based on the average gain and loss of a stock's closing prices over a specific period, typically 14 days.
A higher RSI value suggests that a stock is overbought, potentially indicating a reversal or correction in its price. Conversely, a lower RSI value suggests oversold conditions, potentially signaling an upward movement. This decline in RSI indicates a potential weakening of bullish momentum and may serve as an early warning sign for investors to exercise caution or consider taking profits.
The Top 10 Stocks with Bearish RSI Signals: 1) JSW Energy Ltd. (RSI: 69.72, Prev. RSI: 71.70) 2) Hero MotoCorp Ltd.
(RSI: 69.53, Prev. RSI: 72.63) 3) Poly Medicure Ltd. (RSI: 69.33, Prev.
RSI: 71.17) 4) Sunteck Realty Ltd. (RSI: 69.26, Prev. RSI: 82.89) 5) Suzlon Energy Ltd.
(RSI: 68.92, Prev. RSI: 73.78) 6) Central Bank Of India (RSI: 68.81, Prev. RSI: 71.41) 7) Aavas Financiers Ltd.
(RSI: 68.74, Prev. RSI: 74.85) 8) Varroc Engineering Ltd. (RSI: 68.51, Prev.
RSI: 70.24) 9) Bajaj Finserv Ltd. (RSI: 68.36, Prev. RSI: 74.36) 10) Jindal Stainless Ltd.
(RSI: 68.27, Prev. RSI: 76.20) (Disclaimer: This is an AI-generated article. Recommendations,
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