Vinati Organics, Varun Beverages among 10 stocks with bearish RSI

economictimes.indiatimes.com:

Relative Strength Index (RSI), is invaluable in assessing a stock's momentum. On September 6, Wednesday, StockEdge reported that more than 30 stocks were in the overbought zone while experiencing bearish RSI trends. Today, we spotlight 10 of these stocks, shedding light on the importance of RSI and why these stocks deserve your attention.

The Relative Strength Index (RSI) is a technical indicator that measures the magnitude and velocity of recent price changes in a stock.

RSI values range from 0 to 100, and they are used to identify overbought (above 70) and oversold (below 30) conditions. RSI values above 70 often indicate that a stock may be overextended and due for a potential pullback, while values below 30 suggest potential buying opportunities.

Here are 10 stocks that are currently trading in the overbought zone but exhibit bearish RSI trends:

1) Vinati Organics Ltd. (NSE: VINATIORGA)
RSI: 69.57
Prev.

RSI: 72.02

2) Varun Beverages Ltd. (NSE: VBL)
RSI: 69.46
Prev. RSI: 75.38

3) Bank Of Maharashtra (NSE: MAHABANK)
RSI: 69.41
Prev.

RSI: 74.43

4) RattanIndia Enterprises Ltd. (NSE: RTNINDIA)
RSI: 69.3
Prev. RSI: 75.87

5) IRB Infrastructure Developers Ltd.

(NSE: IRB)
RSI: 69.12
Prev. RSI: 72.94

6) LIC Housing Finance Ltd. (NSE: LICHSGFIN)
RSI: 69.07
Prev.

RSI: 70.85

7) NTPC Ltd. (NSE: NTPC)
RSI: 69.04
Prev. RSI: 74.59

8) Devyani International Ltd.

(NSE: DEVIYANI)
RSI: 69.01
Prev. RSI: 75.12

9) GMR Airports Infrastructure Ltd. (NSE: GMRINFRA)
RSI: 68.98
Prev.

RSI: 73.88

10) Tata Power Company Ltd. (NSE: TATAPOWER)
RSI: 68.88
Prev. RSI: 70.47

Please note that data for stocks with bearish RSI trends while being overbought on September 7, Thursday, will be updated later today.

(Disclaimer: This is an AI-generated article.