Varun Beverages, VIP Industries among 10 stocks with RSI trending down
Relative Strength Index (RSI), an invaluable indicator for measuring stock price momentum. Understanding RSI and its significance is pivotal to deciphering why some stocks are on a downtrend.
The Relative Strength Index (RSI) is a widely-used momentum oscillator that gauges the speed and magnitude of price movements.
It's a scale ranging from 0 to 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions. RSI is a critical instrument for investors to identify potential trend reversals and entry/exit points.
On October 11, Wednesday, StockEdge reported 12 stocks with a downtrending RSI.
We have chosen 10 of these stocks, offering valuable insights for potential investors. Let's dive into the details:
1) Varun Beverages Ltd.
RSI: 49.56
Previous RSI: 54.64
2) VIP Industries Ltd.
RSI: 49.55
Previous RSI: 51.68
3) State Bank Of India
RSI: 49.18
Previous RSI: 51.31
4) Balrampur Chini Mills Ltd.
RSI: 49.07
Previous RSI: 51.24
5) EIH Ltd.
RSI: 48.7
Previous RSI: 50.06
6) Bank Of Baroda
RSI: 48.67
Previous RSI: 56.86
7) JSW Energy Ltd.
RSI: 48.46
Previous RSI: 52.32
8) Motherson Sumi Wiring India Ltd.
RSI: 48.27
Previous RSI: 51.36
9) Narayana Hrudayalaya Ltd.
RSI: 47.9
Previous RSI: 50.2
10) NMDC Steel Ltd.
RSI: 47.81
Previous RSI: 52.14
Data on stocks with a downtrending RSI on October 12, Thursday will be updated on stockedge 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)
