IRCTC, ZEEL among 5 stocks with RSI trending down

For investors, monitoring market indicators is akin to navigating using a compass. One such crucial indicator is the Relative Strength Index (RSI), which can be an essential tool in predicting the future movement of stocks. On November 8, Wednesday, 18 stocks experienced a decline in their RSI, and in this article, we'll delve into the importance of RSI and its impact on stock analysis. Additionally, we'll spotlight five stocks that are currently witnessing a downturn in their RSI.

RSI is scaled between 0 and 100. When RSI drops below 30, the stock is considered oversold, implying a potential price rally. Conversely, RSI exceeding 70 suggests the stock is overbought and might experience a price correction.

Spotlight on Five Stocks with RSI on the Decline

Let's examine five stocks that are currently experiencing a decline in their RSI:

1) Indian Railway Catering And Tourism Corporation Ltd (IRCTC).
RSI: 49.74
Previous RSI: 51.65

2) Zee Entertainment Enterprises Ltd.
RSI: 49.61
Previous RSI: 51.74

3) Manappuram Finance Ltd.
RSI: 49.57
Previous RSI: 50.78

4) Cholamandalam Financial Holdings Ltd.
RSI: 49.39
Previous RSI: 53.26

5) Triveni Engineering & Industries Ltd.
RSI: 49.36
Previous RSI: 50.22

Data pertaining to stocks whose RSI was trending down on November 9, Thursday will be updated later today after market hours.

(You can now subscribe to our ETMarkets WhatsApp channel)

(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)