Coal India, Tata Investment among 10 overbought stocks with RSI above 70

In the ever-evolving world of stock trading, identifying the right entry and exit points is paramount. One tool that provides valuable insights into stock movements is the Relative Strength Index (RSI). On September 29, Friday, StockEdge reported that over 100 stocks were trading in an overbought zone, signifying strong upward momentum. In this article, we will explore the significance of RSI and delve into 10 stocks handpicked by ETMarkets that are currently trading in this overbought territory.

The Relative Strength Index (RSI) is a versatile technical indicator that aids traders and investors in assessing the strength and momentum of a stock's price movements. RSI values typically range from 0 to 100. A stock is considered overbought when its RSI exceeds 70, indicating that it may be due for a downward correction. Conversely, an RSI below 30 suggests that the stock may be oversold and could experience an upward reversal.

Now, let's take a closer look at the 10 stocks currently trading in the overbought zone:

1) Sunteck Realty Ltd.
RSI: 78.63
Previous RSI: 77.91

2) Larsen & Toubro Ltd.
RSI: 75.88
Previous RSI: 74.94

3) Coal India Ltd.
RSI: 75.55
Previous RSI: 73.05

4) Tata Investment Corporation Ltd.
RSI: 75.03
Previous RSI: 87.7

5) Indian Overseas Bank
RSI: 74.92
Previous RSI: 74.35

6) REC Ltd.
RSI: 72.01
Previous RSI: 69.8

7) Housing & Urban Development Corporation Ltd.
RSI: 74.57
Previous RSI: 69.49

8) Multi Commodity Exchange Of India Ltd.
RSI: 74
Previous RSI: 80.71

9) Gujarat Ambuja Exports Ltd.
RSI: 72.7
Previous RSI: 79.75

10) CE Info Systems Ltd.
RSI: 72.12
Previous RSI: 77.71

Data pertaining to stocks whose RSI is in the overbought zone on October 3, Tuesday 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)