IDBI Bank recently reported its September quarter results, where it logged 59.8 per cent YoY rise in net profit at Rs 1,323.3 crore compared with Rs 828.1 crore in the same quarter last year.
Delve into the intriguing interplay between stock trends and Relative Strength Index (RSI) readings as we explore a unique subset of the market. This article dives deep into the fascinating world of stocks trading in the overbought zone with bearish RSI trends. We analyse the RSI movements of 10 carefully selected stocks, providing investors with insights into the potential dynamics at play.
In this insightful article, we explore the intriguing world of stock market contradictions, where certain stocks find themselves in an overbought zone but experience declining Relative Strength Index (RSI) trends. We delve into the significance of RSI and its role in understanding stock movements
The Relative Strength Index (RSI) is a momentum oscillator used by investors to assess whether a stock is overbought or oversold. When the RSI value crosses above 70, it indicates that the stock is in an overbought zone. StockEdge reported over 40 stocks trading up recently, and ETMarkets selected 10 stocks that are currently in an overbought zone. Some of the stocks include Indian Bank, IDBI Bank Ltd, and Tata Consultancy Services Ltd. Please note that the data is subject to change.