“The Nifty has experienced a 3% correction this month due to a combination of factors, including rising treasury yields, geopolitical tensions in the Middle East, and increasing crude oil prices,” says Rupak De, senior technical analyst at LKP Securities
RSI is a widely used technical indicator in the world of stock trading. It provides valuable insights into a stock s overbought or oversold conditions, helping investors gauge potential price movements
The RSI is a momentum oscillator that ranges from 0 to 100 and is used to assess the strength and direction of a stock s price movements. An RSI value above 70 indicates that a stock is in an overbought zone and may be ripe for a price correction, while an RSI below 30 signifies an oversold condition and the potential for a rebound.