Easy Trip Planners, BoB among 10 overbought stocks with RSI above 70

In the complex world of stock trading, understanding the nuances of technical indicators can be a game-changer for investors. One such critical indicator is the Relative Strength Index (RSI), which provides insights into a stock’s momentum and overbought or oversold conditions. In this article, we’ll delve into the importance of RSI and explore 10 stocks that defy conventional wisdom by residing in the overbought zone while displaying bearish RSI trends.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is typically used to identify overbought or oversold conditions in a stock.

An RSI above 70 suggests that a stock is overbought, potentially due for a price correction. Conversely, an RSI below 30 indicates oversold conditions, suggesting a potential rebound.

10 Stocks Defying the Norm

1) Blue Star Ltd. (NSE: BLUESTARCO) – RSI: 79.80

2) Bajaj Auto Ltd. (NSE: BAJAJ-AUTO) – RSI: 79.49

3) Tata Investment Corporation Ltd. (NSE: TATAINVEST) – RSI: 79.14

4) Cholamandalam Financial Holdings Ltd. (NSE: CHOLAFIN) – RSI: 78.27

5) Sundaram Finance Ltd. (NSE: SUNDARMFIN) – RSI: 77.91

6) Apar Industries Ltd. (NSE: APARINDS) – RSI: 77.70

7) Varroc Engineering Ltd. (NSE: VARROC) – RSI: 75.85

8) Coal India Ltd. (NSE: COALINDIA) – RSI: 75.61

9) Maharashtra Scooters Ltd. (NSE: MAHSCOOTER) – RSI: 75.49

10 Punjab National Bank (NSE: PNB) – RSI: 75.47

Please note that data pertaining to stocks with bearish RSI trends in the overbought zone on September 21, Thursday, will be updated later today.

(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)

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