Tag: relative strength index

In today's(9th July 2021) session Shares of Tata Consultancy Services swung between gains and losses following its June quarter results which were lower than expectations. The scrip declined over 1 percent in early trade to Rs 3,211.85 on the BSE, however, it recouped losses to trade marginally in the green at Rs 3,271.05 around 10.40 am. Analysts largely hold bullish views on the stock although they are concerned about the valuations. Most expect TCS to bounce back following a blip in the Q1 earnings show. The technical charts signals for the stock in the days ahead are as below: Tata Consultancy Services (TCS) Likely target: Rs 3,700 and Rs 3,900 Upside potential: 8% and 15% Read more

The current momentum in the domestic benchmark indices, Sensex and Nifty, shows weak sentiment and a confused state of mind of traders and investors. Quite a few stocks are reflecting extremely bullish sentiment in their overall trend. According to analysts at the current momentum, a total of 57 stocks in the Nifty 500 index are trading in the overbought category of Relative Strength Index (RSI). This indicator analyses the impact of change in price to identify the overbought and oversold territory. Investors consider the overbought situation as the area to look for profit booking or selling stocks. Likewise, oversold condition indicates bullish entry. Read more