On November 12, Sunday, a whopping 46 stocks surged into overbought territory, signaling potential caution for investors. ETMarkets brings you a curated list of 5 stocks riding high in the overbought zone, unpacking the significance of RSI and why astute investors should take note.

INVESTMENT VIEW # 1#SWANENERGY LTP 281.80 (APPROX) BUY IN DIPS TILL 240 TARGET 340-380 SL CLOSE BELOW 220 (ON DAILY TIMERAME) SHALL BE UPDAT

Uncover the significance of the Relative Strength Index (RSI) and why it's a valuable tool for assessing stock movements. In this article, we explore five stocks that were trading in an overbought zone on October 31, Tuesday, helping you make informed investment decisions while understanding the importance of RSI.

The stock market experienced significant activity as several midcap and smallcap stocks reached new all-time highs on October 31, highlighting their impressive growth potential and contributions to the market.

Sectorally, buying was seen in realty, telecom, energy, oil & gas, and banks while auto, consumer durables, FMCG, and metals stocks saw some selling pressure

The stock market witnessed significant activity as several major stocks achieved new all-time highs on October 30, marking a day of remarkable achievements and reflecting the growth potential of these companies.

As the first step, SEL will set up a Board of Directors once the Monitoring Committee appointed by the NCLT gets dissolved. SEL will kick start operations as soon as the takeover process is completed.

Swan Energy partnered with resolution applicant Hazel Mercantile Ltd through its special purpose vehicle - Hazel Infra - to acquire RNEL under Insolvency and Bankruptcy Code (IBC).

Swan Energy partnered with resolution applicant Hazel Mercantile Ltd through its special purpose vehicle – Hazel Infra Ltd – to acquire RNEL under IBC. After this payment, the company will be handed over to the winning bidder.

Swan Energy is raising Rs 1,435 crore through preferential shares to finance the acquisition. The National Company Law Tribunal has directed the winning bidder to pay the amount proposed in the resolution plan before considering an extension. The next hearing is scheduled for November 22.

Swan Energy, the company that won the bid to buy Reliance Naval and Engineering Ltd, has been asked by the Ahmedabad bench of NCLT to make the upfront payment as proposed in the resolution plan. Swan Energy has not made the payment of around Rs 250 crore and has requested a third extension.

Last Friday, Swan Energy's board passed a resolution to raise the money by issuing preference shares at a premium of ₹495 to GCP INAB, it said in a notice to the exchange.

Several stocks in the market crossed their 100-day Simple Moving Averages (SMA), indicating strong market resilience and investor confidence.

The share touched a 52-week high of Rs 379 on January 23, 2023 and a 52-week low of Rs 180.30 on July 8, 2022.