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    ​PNB, Vodafone Idea among 9 stocks signalling overbought state as RSI crosses 70​

    By
    , ETMarkets.com|
    What is RSI?
    1/11

    What is RSI?

    ​RSI, which is a momentum indicator, gives short-term buy and sell signals and helps to determine a stock’s overbought and 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.

    ​So, here are major large and midcap stocks whose RSIs have crossed the 70 mark from below, suggesting an overbought state. Typically, this situation hints at a sell signal on the counter. Note the data is from the previous day i.e. September 13. (Source: StockEdge)

    ​

    iStock
    Understanding Overbought State
    2/11

    Understanding Overbought State

    Overbought refers to a condition wherein the stock has been subject to constant upward pressure, and now the technical analysis hints at correction in due course. Constant pressure results in continued bullishness which is considered unreasonable by traders. When this is the case, such an asset is said to be overbought, and traders then bet on the reversal in price trend.

    iStock
    Glaxosmithkline Pharma
    3/11

    Glaxosmithkline Pharma

    RSI on September 13: 79.3| Last closing price: Rs 1544.05

    ETMarkets.com
    ​​Titan Company
    4/11

    ​​Titan Company


    ​RSI on September 13: 74.94| Last closing price: Rs 3263.2

    ETMarkets.com
    Grasim Industries
    5/11

    Grasim Industries

    RSI on September 13: 74.56| Last closing price: Rs 1933

    ETMarkets.com
    ​​Aurobindo Pharma
    6/11

    ​​Aurobindo Pharma


    ​RSI on September 13: 74.01| Last closing price: Rs 902.5

    ETMarkets.com
    ​​PNB
    7/11

    ​​PNB


    ​RSI on September 13: 71.35| Last closing price: Rs 72.55

    ETMarkets.com
    ​​Bharti Airtel
    8/11

    ​​Bharti Airtel

    ​RSI on September 13: 71.07| Last closing price: Rs 915.15

    ETMarkets.com
    ​​Torrent Power
    9/11

    ​​Torrent Power

    ​RSI on September 13: 70.93| Last closing price: Rs 725.75

    ETMarkets.com
    ​​Lupin
    10/11

    ​​Lupin


    ​RSI on September 13: 70.66| Last closing price: Rs 1145.5

    ETMarkets.com
    ​​Vodafone Idea
    11/11

    ​​Vodafone Idea

    ​RSI on September 13: 70.49| Last closing price: Rs 11

    ETMarkets.com
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