Downward Signals! Bajaj Auto & 7 other stocks whose RSIs are trending below 50
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Trend Indicator
RSI or Relative Strength Index computes the ratio of the recent upward price movement to the absolute price movement. The metric ranges from 0-100 and the time period considered here by StockEdge to measure the metric is 14 days. Typically, RSI is the momentum indicator used in technical analysis of stocks and helps to determine overvalued or undervalued state of the security.
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Significance of RSI trending down
In case the RSI trends below 50 from above, it is considered a sign of a downtrend. So, here are all the large and midcaps that provide a downtrend signal. (Source: StockEdge)
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Atul Ltd
RSI as on July 3: 49.47| Previous RSI: 54.19| Close as on July 3: Rs 6915.75| % performance: -1.1%
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Apollo Tyres
RSI as on July 3: 49.03| Previous RSI: 57.36| Close as on July 3: Rs 397| % performance: -2.4%
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Bajaj Auto
RSI as on July 3: 47.91| Previous RSI: 56.34| Close as on July 3: Rs 4610.45| % performance: -1.7%
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Schaeffler India
RSI as on July 3: 47.56| Previous RSI: 52.9 |Close as on July 3: Rs 3045.7| % performance: -1.7%
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UPL
RSI as on July 3: 47.56| Previous RSI: 52.02 |Close as on July 3: Rs 680.3| % performance: -1.1%
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AIA Engineering
RSI as on July 3: 47.52| Previous RSI: 51.49 |Close as on July 3: Rs 3155.85| % performance: -1.4%
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Persistent Systems
RSI as on July 3: 46.58| Previous RSI: 55.7 |Close as on July 3: Rs 4861.75| % performance: -3%
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Kajaria Ceramics
RSI as on July 3: 46.25| Previous RSI: 51.06 |Close as on July 3: Rs 1244.05| % performance: -1.1%