Canara Bank, IGL among 10 stocks with RSI trending up

The Relative Strength Index (RSI) is a momentum oscillator that measures price movement velocity and magnitude, with values ranging from 0 to 100. When a stock’s RSI crosses above 70, it suggests that the stock is entering an overbought zone, indicating a potential price correction or reversal in the near future. StockEdge reported that 26 stocks were trading up and 10 are in an overbought zone. Bank of India, Grasim Industries, and Bharat Petroleum are some stocks that have seen a rise in their RSI.