ETMarkets.comFrom this group, ETMarkets has handpicked 10 stocks that are currently trading in an overbought zone.
The RSI is a popular technical analysis tool used to evaluate the momentum and strength of a stock's price movement. RSI values range from 0 to 100, with readings above 70 indicating that a stock is overbought, potentially due for a price correction, while readings below 30 suggest that a stock is oversold and might experience a price rebound. By tracking RSI, investors can gain insights into the current state of a stock's price momentum and potential reversals in the near future.
Let's explore the 10 stocks that are currently trading in an overbought zone:
1) NLC India Ltd. (RSI: 79.06, Prev. RSI: 77.33)
2) Colgate-Palmolive (India) Ltd. (RSI: 79.04, Prev. RSI: 75.91)
4) Samvardhana Motherson International Ltd. (RSI: 79.02, Prev. RSI: 77.59)
5) RBL Bank Ltd. (RSI: 78.84, Prev. RSI: 72.08)
6) UTI Asset Management Company Ltd. (RSI: 77.89, Prev. RSI: 74.95)
7)Nippon Life India Asset Management Ltd. (RSI: 77.39, Prev. RSI: 75.1)
8) Muthoot Finance Ltd. (RSI: 77.21, Prev. RSI: 72.35)
9) Indian Bank (RSI: 77.18, Prev. RSI: 76.01)
10) MTAR Technologies Ltd. (RSI: 76.91, Prev. RSI: 75.89)
It is important to note that data pertaining to stocks in the overbought zone on July 17, Monday, will be updated later today after market hours. Therefore, investors should refer to the latest information for a comprehensive analysis before making any investment decisions.
(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)
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