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This article delves into the intriguing world of stocks that are in the overbought zone but are displaying bearish or declining Relative Strength Index (RSI) trends. ETMarkets analyzes two such stocks, Oil India Ltd. and Godrej Industries Ltd., which may provide investors with important insights into the complexity of stock signals.

"Market intervention is to prevent excessive volatility and to see that there is orderly appreciation or orderly depreciation," RBI Governor Shaktikanta Das said on Friday.

However, the Paris-based agency that advises the United States and other industrialised countries, raised its 2023 demand forecast to 2.3 million bpd, from a previous estimate of 2.2 million.

The company also reported 64.92% growth in H1FY24 collections at Rs 1,327.458 crore while sales realization grew to approximately Rs 9,800 per sq. ft. from approximately Rs 7,425 per sq. ft. in H1FY23

"Risk rewards seem evenly balanced with Nifty PE discount at 16.7% to LPA while impending El Nino impact and 2024 elections are a key risk," it said.

Surpassing the 200-day SMA is a significant technical achievement that often signals longer-term trends in the stock market.

On October 11, Wednesday, StockEdge reported 21 stocks with RSI trending up, and ETMarkets handpicks 10 stocks to provide a comprehensive understanding of this momentum indicator.

The operating profit for the quarter under review was Rs 467 crore, up 20% as compared to Rs 389 crore in the corresponding quarter of last year. Total assets under management stood at Rs 5.24 lakh crore. Of this, actively managed equity-oriented funds stood at Rs 2.86 lakh crore

ETMarkets closely examines 10 stocks out of the 12 identified on October 11, Wednesday, and explores why RSI is a crucial tool for investors to assess stock movements.