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In the intricate world of stock trading, decoding the dynamics of Relative Strength Index (RSI) trends is crucial. On August 17, StockEdge spotlighted a captivating situation where 50 stocks found themselves in the overbought territory while displaying bearish or declining RSI trends.

“The core investors are a vote of confidence in the Indian policy reforms and those private developers whom they are trusting with these investments. They are here for a long time. In the energy landscape, there would be adequate space for renewable and conversion. They do not want to miss the bus now and want to also take a bite of the cake.”

On August 17, StockEdge illuminated a compelling scenario: 13 stocks resided in the overbought zone, yet their RSI trends displayed a bearish or declining movement. This article delves into the significance of RSI, explores 5 selected overbought stocks with bearish RSI trends by ETMarkets, and equips potential investors with insights to steer their decision-making

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Negative chart patterns like lower highs and lows are intact and the index is currently on the way down to form a new lower low. “We observe a broader triangle-type pattern on the daily chart and the market is currently placed at the edge of breaking below the lower support of 19,250 levels," said Nagaraj Shetti of HDFC Securities.

On the technical charts, the RSI of the stock stood at 36.3.

ETMarkets shortlisted stocks that are exclusively held by a single scheme. Initially, the list encompassed 210 stocks as of July.

On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed.

The US-based short-seller publishes reports on companies that it believes are overvalued, fraudulent or misleading investors

The crossing of the 200-day Simple Moving Average (SMA) can often signal significant shifts in stock price trajectories.