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Delve into the intricacies of the Relative Strength Index (RSI) and its significance in assessing stock movements. This article explores why 10 stocks are currently trading in the overbought zone but exhibit bearish RSI trends. Discover how this anomaly can impact your investment strategy and make informed decisions.
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It is a two-bar candlestick pattern after a downtrend.
In this article, we'll explore RSI, why it's important, and examine ten stocks that were in the overbought zone while displaying bearish or declining RSI trends, as reported on September 4, Monday, by StockEdge.
Top gainers on the Nifty included Tata Steel, Maruti Suzuki, M&M, Eicher Motors and Infosys, while the top losers were Power Grid Corporation, SBI, BPCL, Dr Reddy's Laboratories and Hero MotoCorp