ETMarkets.comAn RSI reading above 70 indicates that a stock is in an overbought zone, suggesting that the stock may be trading at a higher price than its intrinsic value. The RSI is a popular momentum oscillator used by traders and investors to analyse a stock's price movement. It compares the magnitude of recent gains and losses over a specified time period to generate a value between 0 and 100.
10 Overbought Stocks:
1) Polycab India Ltd. (RSI: 88.87, Prev. RSI: 83.88): A leading manufacturer of wires and cables.
2) Esab India Ltd. (RSI: 83.49, Prev. RSI: 82.53): A renowned welding and cutting solutions provider.
3) Union Bank Of India (RSI: 82.52, Prev. RSI: 80.03): A public sector bank with a wide range of financial services.
5) HDFC Asset Management Company Ltd. (RSI: 81.81, Prev. RSI: 76.69): A leading mutual fund house in India.
6) Nippon Life India Asset Management Ltd. (RSI: 81.81, Prev. RSI: 75.3): A well-established asset management company.
7) Mahindra Holidays & Resorts India Ltd. (RSI: 81.32, Prev. RSI: 85): A vacation ownership company.
8) Mazagon Dock Shipbuilders Ltd. (RSI: 81.27, Prev. RSI: 78.62): A public sector undertaking in shipbuilding.
9) Zensar Technologies Ltd. (RSI: 80.5, Prev. RSI: 79.66): An IT services and consulting company.
10) Procter & Gamble Hygiene and Health Care Ltd. (RSI: 80.37, Prev. RSI: 80.05): A renowned consumer goods company.
(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)
Friday, 21 Jul, 2023- Front Page
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