Investors should monitor six Indian companies with a Relative Strength Index (RSI) above 75 and market capitalisation over Rs 75,000 crore ($10bn), according to an ETMarkets screener. Hindustan Aeronautic and Bharat Electronics are both in the defence sector, while ICICI Prudential Life and two other firms are insurers. The final firm is Britannia Industries, which sells biscuits, cakes, and dairy products. An RSI of over 75 signals overbought conditions that increase the probability of a shift in direction, but the strong market positions of the firms might still make them attractive long-term investments.
