Jyothy Labs, Prestige Estates among 10 stocks with bearish RSI

The stock market is a dynamic and ever-changing landscape, and investors rely on various tools and indicators to make sense of it all. One such tool is the Relative Strength Index (RSI), a powerful gauge of a stock's momentum and potential trend reversal. On September 5, Tuesday, StockEdge identified more than 30 stocks trading in the overbought zone while their RSI trended bearish or declined. Today, we'll shed light on what RSI is, why it's crucial for stock analysis, and examine 10 stocks that exemplify this intriguing scenario.

The Relative Strength Index (RSI) is a widely used momentum oscillator that measures the speed and change of price movements. RSI values range from 0 to 100 and are typically used to identify overbought (above 70) or oversold (below 30) conditions in a stock.

Here's why RSI is crucial for assessing stock movement:

Now, let's take a closer look at the 10 stocks that are currently trading in the overbought zone with a bearish RSI trend:

1. Jyothy Labs Ltd.
RSI: 66.91
Prev. RSI: 78.76

2. Prestige Estates Projects Ltd.
RSI: 66.89
Prev. RSI: 73.79

3. Supreme Petrochem Ltd.
RSI: 66.82
Prev. RSI: 70.04

4. K.P.R. Mill Ltd.
RSI: 65.91
Prev. RSI: 72.86

5. Shree Renuka Sugars Ltd.
RSI: 65.78
Prev. RSI: 72.23

6. Prism Johnson Ltd.
RSI: 65.69
Prev. RSI: 71.24

7. Sterlite Technologies Ltd.
RSI: 65.69
Prev. RSI: 72.10

8. Indiabulls Housing Finance Ltd.
RSI: 64.90
Prev. RSI: 73.82

9. DCM Shriram Ltd.
RSI: 64.17
Prev. RSI: 75.53

10. Angel One Ltd.
RSI: 61.82
Prev. RSI: 73.15

Please keep in mind that the data pertaining to stocks with bearish RSI trends while being overbought on September 6, Wednesday, will be updated later today.

(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)