BSE, Godrej Properties among 10 overbought stocks trading with bearish RSI

Investors should be aware of indicators such as the Relative Strength Index (RSI), which can provide insights into a stock’s overbought or oversold conditions. ETMarkets has selected 10 stocks, including Aurobindo Pharma and REC Ltd., that are currently trading in the overbought zone but have a bearish RSI trend. RSI is a popular technical indicator that measures price movement speed and change on a scale of 0 to 100. An RSI reading above 70 suggests overbought conditions and a possible downturn, while a reading below 30 indicates oversold conditions and a potential rebound.