iStockRSI values above 70 typically indicate that a stock is overbought, suggesting it may be due for a pullback or correction. When a stock is deemed overbought, it means that its price has risen significantly, potentially to unsustainable levels. It's a point where investors should exercise caution. The Relative Strength Index (RSI) is a vital tool in identifying these situations. Here's why RSI is essential:
10 Stocks in the Overbought Zone
1) ITI Ltd. (NSE: ITI) - RSI: 88.98, Prev. RSI: 91.63
2) Cholamandalam Financial Holdings Ltd. (NSE: CHOLAFIN) - RSI: 84.82, Prev. RSI: 82.5
3) Bank Of India (NSE: BANKINDIA) - RSI: 81.29, Prev. RSI: 78.28
4) Lemon Tree Hotels Ltd. (NSE: LEMONTREE) - RSI: 80.05, Prev. RSI: 75.75
5) L&T Technology Services Ltd. (NSE: LTTS) - RSI: 79.93, Prev. RSI: 72.47
6) Tata Teleservices (Maharashtra) Ltd. (NSE: TTML) - RSI: 79.47, Prev. RSI: 78.11
7) Dalmia Bharat Ltd. (NSE: DALBHARAT) - RSI: 78.99, Prev. RSI: 76.46
8) Jindal Stainless Ltd. (NSE: JSL) - RSI: 78.77, Prev. RSI: 77.75
9) HCL Technologies Ltd. (NSE: HCLTECH) - RSI: 77.31, Prev. RSI: 75.91
10) Indian Railway Finance Corporation Ltd. (NSE: IRFC) - RSI: 77.04, Prev. RSI: 75.59
Keep in mind that data related to stocks in the overbought zone on September 15, Friday, will be updated after market hours.
(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)
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