Overbought stocks: Patanjali Foods, V-Guard Industries among 10 stocks trading above RSI of 70
The Relative Strength Index (RSI) is a key tool for analyzing stock momentum and identifying overbought or oversold conditions. StockEdge reported that 82 stocks are currently trading in an overbought zone, with 10 stocks handpicked by ETMarkets for further analysis. RSI values above 70 suggest overbought conditions and potential price corrections, while values below 30 indicate oversold conditions and potential price rebounds. Assessing stock movement based on RSI is important for investors to identify market turning points and make informed decisions.
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