The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It provides a numeric value that ranges from 0 to 100, helping investors identify overbought and oversold conditions in a stock. Here s a quick rundown of RSI s utility:
Shares of India s largest hospitality group Indian Hotels (IHCL), which owns brands like Taj, Vivanta and Ginger, have risen 35% in the last 6 months to fresh record high levels. Similarly, EIH, which is the flagship company of the Oberoi Group, Chalet Hotels and Lemon Tree Hotels also hit fresh highs on Thursday.
"Zee is an undervalued stock despite the current issues with its promoters but one should stay away until there is greater visibility. The hotel industry, particularly urban consumption, is seeing a revival with corporate customers returning and increased pricing power. Stocks such as Chalet Hotels, Indian Hotels, EIH, and Lemon Tree are expected to continue performing well. "
The last week s low point of 19,250 is expected to be crucial this week as well. A breach of this level may pull down the index up to the psychological 19,000 mark, whereas on the higher side, 19,400-19,500 can be critical hurdles, experts said
On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.