PVR Inox, Coal India among 10 overbought stocks with RSI above 70

In the world of stock trading, understanding when a stock is in the overbought zone can be as vital as knowing when to board a rocket ship. It's all about recognising when a stock's price has run up too fast and too far. One of the tools that can help you make this distinction is the Relative Strength Index (RSI).

What is the RSI?

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is used to identify overbought (above 70) and oversold (below 30) conditions in a stock. The RSI is calculated based on the average gains and losses over a specified period, usually 14 days.


On September 7, Thursday, StockEdge identified a whopping over 100 stocks trading in the overbought zone, signaling a period of significant price appreciation. Out of this extensive list, ETMarkets has selected 10 stocks that stand out for their impressive performance and high RSI values.

Top 10 Overbought Stocks to Watch:

1) BSE Ltd.
RSI: 90.24
Prev. RSI: 88.87

2) MMTC Ltd.
RSI: 89.36
Prev. RSI: 88.92

3) Cochin Shipyard Ltd.
RSI: 88.77
Prev. RSI: 79.83

4) Coal India Ltd.
RSI: 84.5
Prev. RSI: 76.97

5) Indian Railway Finance Corporation Ltd.
RSI: 83.42
Prev. RSI: 80.89

6) Alok Industries Ltd.
RSI: 83.39
Prev. RSI: 82.83

7) GMM Pfaudler Ltd.
RSI: 82.85
Prev. RSI: 81.84

8) PVR Inox Ltd.
RSI: 82.81
Prev. RSI: 81.08

9) Go Fashion (India) Ltd.
RSI: 82.7
Prev. RSI: 81.37

10) Maharashtra Scooters Ltd.

RSI: 82.44
Prev. RSI: 82.1

Please note that data for stocks in the overbought zone on September 8, 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)