The Relative Strength Index (RSI) is a tool used in stock trading to check how fast and how much a stock’s price is changing. It has a scale from 0 to 100. If the RSI is above 70, the stock might be overpriced and could see a drop. If it is below 30, the stock might be underpriced and could rise. RSI is usually calculated over 14 days.
Here is the list of stocks that are in the Overbought Zone on RSI :
Indus Towers is one of the largest telecom tower companies in the world. It provides shared telecom infrastructure to wireless telecom operators to minimize their capital and operational expenditure. The company was formed by the merger of Bharti Infratel and Indus Tower in 2020.
With a market capitalization of Rs. 1,05,711 crores, the stock is trading at Rs. 400. The RSI stands at 72.53, indicating that the stock is in the overbought zone. This suggests a potential risk for downside.
Founded in 1995 and headquartered in Nagpur, Maharashtra, Solar Industries is a leading global manufacturer of industrial explosives, propellants, and defense products. Their Core business of Solar Industries is in the production of Industrial explosives and initiating systems.
With a market capitalization of Rs. 1,16,098 crores, the stock is trading at Rs. 12,830. The RSI stands at 80.55, indicating that the stock is in the overbought zone. This suggests a potential risk for downside.
Founded in the 1940s, headquartered in Chennai, Tamil Nadu, MRF is one of India’s most iconic and trusted tyre manufacturers in India. It manufactures a wide range of tyres for passenger vehicles, two-wheelers, trucks, buses, and farm equipment.
With a market capitalization of Rs. 54,151 crores, the stock is trading at Rs. 1,27,680. The RSI stands at 77.92, indicating that the stock is in the overbought zone. This suggests a potential risk for downside.
Formerly known as Magma Fincorp, it is an NBFC focused on providing consumer and MSME loans. Under the New name, the Company has repositioned itself as a technology-driven and customer-centric lender.
With a market capitalization of Rs. 31,731 crores, the stock is trading at Rs. 407. The RSI stands at 79.33, indicating that the stock is in the overbought zone. This suggests a potential risk for downside.
Headquartered in Mumbai, and originally established as UTI Bank. It is one of India’s largest private sector banks in India, known for its comprehensive financial services for retail, SME, and corporate customers. Its products include Retail banking, Corporate banking, SME banking, and Digital banking.
With a market capitalization of Rs. 3,76,987 crores, the stock is trading at Rs. 1,217. The RSI stands at 74.56, indicating that the stock is in the overbought zone. This suggests a potential risk for downside.
Written By Abhishek Das
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