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​Stocks from the BSE100 pack were upgraded to Buy​

“The untapped opportunity that Mukesh Ambani was speaking about probably exists and there are competition pressures in existence. A low-cost digital offering can probably ensure that consumers transition faster onto the platform. The tie-up with BlackRock on the asset management business and probably entering life insurance business. I am pretty sure the Jio Financial management will probably come out with a very elaborate presentation”

The Nifty Bank index closed 0.6 per cent up at 44494.65.

Sector-wise, buying was seen in capital goods, realty, industrials, and public sector while selling was seen in IT, FMCG, and energy stocks.

The RBI had last year begun experiments on both the wholesale and retail versions of e-rupee using the blockchain distributed-ledger technology, as an alternative to cash.

Although the trend remains weak, the failure to fall below 19,245 on a closing basis may lead to a short-term pullback in the market. The RSI has shown a bullish crossover. Support is positioned at 19,245; a decisive breach below this level could attract significant selling pressure. On the higher end, resistance is observed at 19,450.

On August 28, Trendlyne, a prominent stock analytics platform, reported that over 40 Nifty stocks had witnessed the formation of a Golden Crossover. This revelation attracted the attention of market analysts, including those at ETMarkets, who selected 10 stocks from this group for closer examination.

Exceeding the 20-day SMA indicates potential shifts in market dynamics and investor sentiment.

The surge of mid & small-cap stocks to new all-time highs on August 28 paints a vivid picture of the ever-evolving stock market.

In the intricate world of stock trading, the Relative Strength Index (RSI) serves as a compass for investors. This article unveils the significance of RSI and its role in assessing stock movements. Shedding light on a recent StockEdge report, we delve into stocks currently trading in the overbought zone with bearish or declining RSI trends.