rsi overbought: Suzlon Energy, eClerx Services among 10 overbought stocks with RSI above 70

In the dynamic world of stock trading, investors rely on various indicators and tools to make well-informed decisions. One such indicator that plays a vital role in technical analysis is the Relative Strength Index (RSI). On October 5, Thursday, StockEdge reported that over 14 stocks were trading in an overbought zone, and ETMarkets has carefully selected 10 stocks from this group for a closer look. In this article, we’ll explore the importance of RSI and delve into the details of these 10 overbought stocks.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI values range from 0 to 100 and are used to identify overbought and oversold conditions in a stock. An RSI value above 70 typically suggests that a stock is overbought, while an RSI below 30 indicates an oversold condition. Traders and investors use RSI to gauge potential trend reversals and assess the overall strength of a stock’s price movement.

Now, let’s take a closer look at the 10 stocks trading in the overbought zone:

1) Safari Industries (India) Ltd.
RSI: 79.03
Prev. RSI: 77.16

2) Kaynes Technology India Ltd.
RSI: 77.69
Prev. RSI: 74.073) Suzlon Energy Ltd.
RSI: 77.07
Prev. RSI: 73.04

4) eClerx Services Ltd.
RSI: 75.14
Prev. RSI: 63.10

5) Larsen & Toubro Ltd.
RSI: 74.69
Prev. RSI: 70.06

6) Tata Investment Corporation Ltd.
RSI: 73.33
Prev. RSI: 72.78

7) CE Info Systems Ltd.
RSI: 71.07
Prev. RSI: 80.04

8) Syrma SGS Technology Ltd.
RSI: 71.06
Prev. RSI: 64.32

9) Indian Overseas Bank
RSI: 71.01
Prev. RSI: 72.91

10) Infibeam Avenues Ltd.
RSI: 70.69
Prev. RSI: 57.11

Data pertaining to stocks trading in an overbought zone on October 6, Friday, will be updated later today after market hours.

(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.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price