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On July 25, Tuesday, StockEdge reported a staggering number of 90 stocks trading in the overbought zone, indicating potential cautionary signals for investors
Over 78 stocks were trading in an overbought zone on July 24, identified by the Relative Strength Index (RSI) as having risen too quickly and requiring a price correction. Economic Times has selected ten stocks, including Esab India, Aarti Drugs, and Tata Motors, as their top buys from the overbought list. The RSI operates within a range of 0-100, with readings of 70 or higher indicating overbought, and readings below 30 showing oversold. The list will be updated for the following day for investors to conduct further research before investing.
Rites Ltd stock has given a return of 6.96 percent over the last six months. Over the same duration the benchmark Nifty50 index has given a return of 2.74 percent.
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The Board of Directors of RITES Limited, at its meeting held today have approved the financial results of the company for the period ended December 31, 2022 - Q3FY23 and 9MFY23.