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Despite the fact the valuations are high and there are many headwinds both in terms of geopolitical risk and central banks policy making, the correction which is taking place in the market is not of the same magnitude which in the past such mews flow has brought. So at one level while the correction is taking place but at the same time, the under current is still that of hope. In such times of divergence, it would be better to add the words like portfolio rejig, caution, fundamentals and valuations to one’s thought process while buying stocks. Refinitiv’s Stock Report Plus which li...

ETMarkets highlights 4 such stocks that may face headwinds despite their overbought status. Understand why RSI matters in stock analysis.

While last week nifty did witness corrective movement. While the overall trend is still bullish and valuations are still at elevated levels. In such times, it would be better that while looking at stocks one should also focus on reducing the risk by taking a hard look at some numbers which are critical indicators. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “hold” or “buy” or "strong buy".

In this article, we delve into the intriguing world of stock market analysis, focusing on the Relative Strength Index (RSI) and its significance in evaluating stock movements. We explore the recent trends in RSI for a selected group of 10 stocks, providing investors with insights to make informed decisions. These insights are derived from a recent screener output and are aimed at assisting potential investors in their quest for profitable opportunities.

In the recent rally (from the bottom) of March 2023 till date, the major contributors were automobile and banking counters, and considering the technical setup, there is still some steam left for a further upside which also confirms our bullishness in these sectors.