The Relative Strength Index (RSI) is an essential technical indicator measuring price movement speed and change. It shows that an RSI above 70 means a stock is trading higher than its underlying value, indicating an overbought condition, while an RSI below 30 suggests an oversold condition.
The Relative Strength Index (RSI) is a valuable technical indicator that measures a stock s momentum and identifies overbought or oversold conditions. An RSI reading above 70 indicates overbought conditions, while a reading below 30 suggests oversold conditions. Understanding the RSI helps investors identify entry or exit points and manage risk effectively.
A total of 70 stocks were trading in the overbought zone according to data from StockEdge. ETMarkets has selected 10 stocks based on their Relative Strength Index (RSI) values. RSI is a widely-used indicator that measures a stock s price movement and indicates if it is overbought or oversold. Readings above 70 suggest a potential price correction or pullback.
eClerx Services has also formed strong bullish candlestick pattern on the daily charts with above average volumes as the stock jumped more than 6 percent to Rs 1,715, the highest closing level since January 20, 2022. The stock has seen a breakout of last four-day consolidation.
The 30-share BSE Sensex climbed 317 points or 0.51 per cent to trade at 62,864, while the broader NSE Nifty moved 83 points or 0.45 per cent higher to trade at 18,617. Mid- and small-cap shares were positive as Nifty Midcap 100 gained 0.32 per cent and the small-cap 100 was up 0.44 per cent.