TCS, Adani Power among 9 stocks with bearish RSI

In the ever-fluctuating landscape of stock markets, investors often grapple with conflicting signals. One such scenario is when a stock is deemed overbought, yet its Relative Strength Index (RSI) trend is bearish or declining. On September 13, Wednesday, StockEdge reported a list of 9 such stocks that warrant attention. Today, we’ll explore the importance of RSI and analyze these stocks, shedding light on why understanding RSI movements is critical for investors.

The Relative Strength Index (RSI) is a widely used technical indicator that measures the speed and change of price movements. RSI values range from 0 to 100, with readings above 70 typically indicating that a stock is overbought, while readings below 30 suggest oversold conditions. RSI is a momentum oscillator that can help investors gauge the strength and direction of price trends.

Let’s take a closer look at 9 stocks that are currently in the overbought zone but are exhibiting bearish or declining RSI trends:

1) MAS Financial Services Ltd. (NSE: MASFIN) – RSI: 69.94, Prev. RSI: 73.48

2) Tata Consultancy Services Ltd. (NSE: TCS) – RSI: 69.37, Prev. RSI: 71.88

3) Computer Age Management Services Ltd. (NSE: CAMS) – RSI: 68.85, Prev. RSI: 70.96

4) Persistent Systems Ltd. (NSE: PERSISTENT) – RSI: 68.33, Prev. RSI: 72.38

5) Adani Power Ltd. (NSE: ADANIPOWER) – RSI: 68.31, Prev. RSI: 73.26

6) Go Fashion (India) Ltd. (NSE: GOFIN) – RSI: 67.17, Prev. RSI: 70.11

7) Astrazeneca Pharma India Ltd. (NSE: ASTRAZEN) – RSI: 65.20, Prev. RSI: 76.12

8) TVS Motor Company Ltd. (NSE: TVSMOTOR) – RSI: 63.23, Prev. RSI: 70.35

Readers Also Like: BUSINESS LIVE: Rightmove ups guidance; Aviva buys Optiom; Revolution Beauty nears Minto settlement

9) Whirlpool Of India Ltd. (NSE: WHIRLPOOL) – RSI: 54.73, Prev. RSI: 77.34

Please note that data related to stocks with bearish RSI trends in an overbought state on September 14, Thursday, will be updated later.

(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)

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

READ SOURCE