​Maruti Suzuki among 4 largecaps signalling overbought state on RSI

​RSI, 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, RSI is the ratio of average upward movement to downward movement over a given time period. So, here are stocks whose RSIs have surpassed the 70 mark, suggesting an overbought state. Note: The data is from the previous day i.e. September 1. (Source: StockEdge)

RSI on September 1: 76.33 | Last closing price: Rs 10,331.25

​RSI on September 1: 73.99 | Last closing price: Rs 1454.1

RSI on September 1: 73.57 | Last closing price: Rs 230.7

​RSI on September 1: 72.6 | Last closing price: Rs 127.05