The RSI is a widely used technical analysis tool that measures the strength and momentum of a stock’s price movement. RSI values range from 0 to 100, with readings above 70 typically indicating that a stock is overbought and may experience a price correction. Conversely, readings below 30 suggest that a stock is oversold and may experience a price rebound. Monitoring RSI trends helps investors identify potential entry or exit points in the market and anticipate price reversals.
However, it’s important to note that the data pertaining to stocks with bearish RSI trends while being overbought on July 17, Monday, will be updated later today. These insights can be valuable for potential investors in their decision-making process.
Let’s explore the stocks that are currently in the overbought zone but have a bearish RSI trend:
1) Sun Pharmaceutical Industries Ltd. (RSI: 69.77, Prev. RSI: 71.3)
2) Fortis Healthcare Ltd. (RSI: 68.53, Prev. RSI: 73.58)
3) ICICI Prudential Life Insurance Company Ltd. (RSI: 67.06, Prev. RSI: 74.56)4) Cochin Shipyard Ltd. (RSI: 66.76, Prev. RSI: 70.18)
5) Bayer CropScience Ltd. (RSI: 66.71, Prev. RSI: 73.01)
6) PB Fintech Ltd. (RSI: 66.66, Prev. RSI: 75.19)
7) Ceat Ltd. (RSI: 66.61, Prev. RSI: 71.55)
8) Data Patterns (India) Ltd. (RSI: 65.76, Prev. RSI: 75.92)
9) Orient Electric Ltd. (RSI: 46.55, Prev. RSI: 70.38)
(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
