​Berger Paints among 6 top stocks that signal overbought state on RSI​

RSI, which is a momentum indicator, gives short-term buy and sell signals and helps to determine a stock’s overbought or oversold state. It is the ratio of the recent upward price movement to the absolute price movement. The value of RSI ranges between 0-100. The StockEdge data computes the value of RSI by taking 14 days as the reference period.

RSI=100-100/(1+RS)
Herein, RS is the ratio of average upward movement to downward movement over a given time period.So, here are stocks whose RSIs have crossed the 70 mark from below, suggesting an overbought state. Note, the data is from the previous day i.e. August 2. (Source: StockEdge)

RSI on August 2: 78.25 |Last closing price: Rs 82.5

RSI on August 2: 74.18 |Last closing price: Rs 1609.15

RSI on August 2: 73.3 |Last closing price: Rs 158.7

RSI on August 2: 72.94 |Last closing price: Rs 1264.65

RSI on August 2: 71.88 |Last closing price: Rs 749

RSI on August 2: 71.65 |Last closing price: Rs 711.65