Carborundum Universal, Tata Coffee among 10 stocks with RSI trending down

Relative Strength Index (RSI) is an important tool to analyse market trends and help investors make informed investment decisions. On July 13, StockEdge reported that 37 stocks were trading with RSI trending down. From this group, ETMarkets has identified 10 stocks that are currently trading down.

The RSI is a popular technical indicator used to measure the speed and change of price movements in a stock. It is a momentum oscillator that ranges from 0 to 100 and provides insights into whether a stock is overbought or oversold. RSI is calculated based on the average gain and average loss over a specific period, typically 14 days. Traders and investors use RSI to gauge the stock's current strength and identify potential trend reversal points.

When the RSI crosses below 30, it suggests that the stock may be oversold, indicating a potential price rebound. Conversely, when the RSI rises above 70, it implies that the stock may be overbought, signaling a possible pullback or correction in price.

Let's delve into these stocks:

1) LIC Housing Finance Ltd. (RSI: 49.82, Prev. RSI: 55.12)

2) Carborundum Universal Ltd. (RSI: 49.81, Prev. RSI: 52.57)

3) Gujarat State Petronet Ltd. (RSI: 49.77, Prev. RSI: 54.14)

4) Amber Enterprises India Ltd. (RSI: 49.56, Prev. RSI: 54.12)

5) Godrej Consumer Products Ltd. (RSI: 49.4, Prev. RSI: 54.21)

6) Tata Coffee Ltd. (RSI: 49.19, Prev. RSI: 55.66)

7) Adani Enterprises Ltd. (RSI: 49.11, Prev. RSI: 52.04)

8) GMM Pfaudler Ltd. (RSI: 49.1, Prev. RSI: 52.76)

9) Indiabulls Real Estate Ltd. (RSI: 48.85, Prev. RSI: 54.3)

10) Alok Industries Ltd. (RSI: 49.03, Prev. RSI: 51.58)

Please note that data pertaining to stocks whose RSI was trending down on July 14, 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)