Cochin Shipyard, IRFC among 10 overbought stocks with RSI above 70

In the ever-evolving world of stock trading, seasoned investors and traders often rely on various indicators to make informed decisions. One such indicator that frequently takes the spotlight is the Relative Strength Index (RSI). On September 11, Monday, data sourced from StockEdge revealed a fascinating trend: over 160 stocks were trading in an overbought zone. Today, we've handpicked 10 of these stocks to delve deeper into the overbought phenomenon and the importance of assessing stock movements using RSI.

The overbought zone is a term used in technical analysis to describe a situation where a stock's price has risen significantly and is perceived to be trading at a level higher than its intrinsic value. The Relative Strength Index (RSI) is a valuable tool that helps identify overbought conditions. RSI values typically range from 0 to 100, with readings above 70 indicating overbought conditions and readings below 30 suggesting oversold conditions.

Now, let's explore 10 stocks currently trading in the overbought zone:


1) BSE Ltd. (BSE: BSE) - RSI: 92.76, Prev. RSI: 91.93

2) Cochin Shipyard Ltd. (NSE: COCHINSHIP) - RSI: 89.19, Prev. RSI: 90.31

3) Indian Railway Finance Corporation Ltd. (NSE: IRFC) - RSI: 88.11, Prev. RSI: 85.3

4) Jindal Stainless Ltd. (NSE: JSL) - RSI: 86.24, Prev. RSI: 81.68

5) Rail Vikas Nigam Ltd. (NSE: RVNL) - RSI: 86.22, Prev. RSI: 78.54

6) Ircon International Ltd. (NSE: IRCON) - RSI: 85.18, Prev. RSI: 75.96

7) Whirlpool Of India Ltd. (NSE: WHIRLPOOL) - RSI: 84.77, Prev. RSI: 82.57

8) Schaeffler India Ltd. (NSE: SCHAEFFLER) - RSI: 83.13, Prev. RSI: 80.31

9) Tube Investments of India Ltd. (NSE: TUBEINVEST) - RSI: 83.02, Prev. RSI: 73.18

10) Dalmia Bharat Ltd. (NSE: DALBHARAT) - RSI: 82.61, Prev. RSI: 80.22

Please note that data related to stocks trading in the overbought zone on September 12, Tuesday, 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)