On August 1, 2023, the stock market witnessed intriguing movements as several stocks crossed their 100-day Simple Moving Average (SMA). These developments have piqued the interest of investors, signaling potential upswings and investment opportunities in the market.
In this article, we delve into the significance of the Relative Strength Index (RSI) in stock trading and explore the top 10 stocks, identified by ETMarkets, which witnessed a downward trend in RSI on July 28, Friday
RSI is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is typically used to identify overbought and oversold conditions in a stock
As many as 33 stocks hit their 52-week lows today. BSE all-cap stocks such as Bajaj Healthcare, Cerebra Integrated Technologies and GRM Overseas hit their respective one-year low levels. That said, 133 stocks touched their one-year high levels today.
The 30-share BSE Sensex pack slipped 306 points or 0.49 per cent to trade at 62,663, while the broader NSE Nifty moved 88 points or 0.47 per cent down to trade at 18,546. On the global front, Asian equities were in the red on US debt deal concerns and weak manufacturing data from China.