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In this article, we delve into the world of stock market analysis, focusing on the Relative Strength Index (RSI) and its pivotal role in understanding stock movements. We explore the recent trends in RSI for a handpicked selection of 10 stocks that have entered the overbought zone. These insights, derived from a recent screener output, offer potential investors valuable information to aid in their decision-making process.

The stock witnessed a breakout from a 12-month rectangle pattern in May 2023 on the weekly charts and since then it has been trading above the upper trendline resistance placed around Rs 120 levels.

The Relative Strength Index of the stock stood at 59.62 on Wednesday.

The stock traded at a P/E multiple of 11.8, while the price-to-book value ratio stood at 1.08.

The impact of inflation on portfolios highlights the importance of considering asset classes that can provide a hedge against inflation, such as equities and real estate despite a challenge on growth. Investing in volatile markets can be a daunting task, with unpredictable price swings and heightened uncertainty.

​Until then Nifty remains sideways as long as it is trading above 19,300 because 19,300 is that key level where the correction took place and there was a follow-up subsequent pullback from those levels.

Pyramid Technoplast aims to raise anywhere between Rs 139 crore - Rs 153 crore through the IPO and the post implied market cap is likely to be around Rs 611 crore.

“In the first quarter itself, there has been a gross margin expansion of around 240 basis points. Ultimately, that has resulted in a 60 basis points improvement in EBITDA already. This year, the Emami distribution synergy has been reflected in the sales of Dermicool and so there is a growth. But overall, , both Navratna and Dermicool are on a path of good growth. We expect good growth in the next normal season,” says Emami CFO.

A total of 1,349 shares changed hands on the counter till 01:39PM (IST)

"FIIs have turned net sellers and India has underperformed MSCI EM by 3.2 ppts over the last 1 month. While the near-term appears weak, there are more signs of a capex upcycle. Our preference for domestic cyclicals (financials, industrials and property) & midcaps stays," said Jefferies analyst Mahesh Nandurkar.