On September 15, Friday, the stock market witnessed intriguing trends in the Relative Strength Index (RSI) of various stocks. ETMarkets has handpicked 10 stocks from a list of 30 that were trading with a declining RSI, providing valuable insights for investors.
Capital goods have seen an FII inflow of $4.8 billion till August, overtaking the financial services sector at $4.06 billion. FII weightage in capital goods has increased from 4.4% at the start of January to 6.2% at the end of August, according to data from Emkay Global.
“The outperformance of the mid and smallcaps has been substantial versus the Nifty 50 since May. If we are to look at our coverage of 180 to 200 stocks, we have seen our analysts downgrading almost around 16 stocks in the last two months, which is basically we have downgraded around 8% of the stocks to either hold or reduce.”
In the case of BHEL, "if you were to just consider Rs 140 as a long-term resistance level, once it breaks out over there, the momentum will carry this trade into next year. Our targets are around Rs 180-200 and possibly higher as the new addition in the order book starts flowing in."