Relaxo Footwears, IndusInd Bank among 10 stocks with declining RSI trends

As seasoned investors will concur, the art of investing is as much about understanding market indicators as it is about intuition. One such crucial indicator is the Relative Strength Index (RSI). Not only does RSI help investors identify potential overbought or oversold conditions, but it also offers a glimpse into the stock's inherent strength or weakness.

The RSI, a momentum oscillator, measures the magnitude of recent price changes to analyze overbought or oversold conditions. It oscillates between zero and 100. Typically, an RSI above 70 indicates that a stock might be overbought and could be primed for a price decline. Conversely, an RSI below 30 suggests a stock might be oversold, signaling a potential upward swing in the future.

On August 14, Monday, StockEdge cast its analytical gaze over the market and reported 50 stocks with a declining RSI trend. From this group, ETMarkets has narrowed down a list of 10 noteworthy stocks exhibiting this trend:

1) Sundaram Finance Ltd. - Current RSI at 49.94, a slight dip from its previous 50.35.

2) SBI Life Insurance Company Ltd. - Dropped from 53.97 to the current 49.92.

3) Relaxo Footwears Ltd. - Experienced a substantial slide from 61.97 to 49.89.

4) Vedant Fashions Ltd. - Currently at 49.83, down from 50.64.

5) Kansai Nerolac Paints Ltd. - Witnessed a significant drop from 58.41 to 49.82.

6) Chemplast Sanmar Ltd. - Moved from 50.46 to 49.76.

7) IndusInd Bank Ltd. - Dipped from 51.43 to 49.55.

8) JSW Steel Ltd. - Slid from a strong 58.08 to 49.49.

9) Sonata Software Ltd. - Declined from 51.35 to the current 49.29.

10) Adani Enterprises Ltd. - Saw a sharp fall from 60.4 to 49.1.

(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)