Explore the significance of the Relative Strength Index (RSI) as ETMarkets selects 10 stocks trading in the overbought zone. Discover why RSI is a crucial tool for assessing stock movement and making informed investment decisions.
It might surprise many, for a company which intends to supply selected raw materials to a tyre company, it might take anywhere two to three years to get approvals in testing and another process before it is able to sell its product to that particular tyre maker. But then once approved, the relationship between them remains forever, until rocked by something major. Similarly, many companies which supply only to large industries have its own advantages.
The 30-share BSE Sensex pack tanked 366 points or 0.56 per cent to close at 65,323; while the broader NSE Nifty index moved 115 points or 0.59 per cent lower to settle at 19,428. Mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 down 0.45 per cent and Nifty Smallcap 100 falling 0.18 per cent.