Dabur, Godrej Agrovet among 10 stocks which have emerged out of overbought zone
The Relative Strength Index (RSI) measures the speed and change of price movements and identifies potential reversal points of a stock. When the RSI is above 70, it suggests an overbought condition indicating a possible price correction. Conversely, a declining RSI trend may indicate a shift in trend. On July 4, 25 stocks were identified as overbought with bearish RSI trends. Ten of them, including Aditya Birla Capital, Indian Oil Corporation, and Dabur India, had recently come out of the overbought zone. An update for July 5 will be available later.