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The Relative Strength Index (RSI) is a momentum oscillator used by investors to assess whether a stock is overbought or oversold. When the RSI value crosses above 70, it indicates that the stock is in an overbought zone. StockEdge reported over 40 stocks trading up recently, and ETMarkets selected 10 stocks that are currently in an overbought zone. Some of the stocks include Indian Bank, IDBI Bank Ltd, and Tata Consultancy Services Ltd. Please note that the data is subject to change.

Russia, seeking to nudge up global oil prices in concert with Saudi Arabia, will reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said on Monday, further tightening global supplies.

The Nifty IT index was trading 0.33 per cent down at 29466.15.

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Several stocks, including Hero MotoCorp, Coal India, Bosch, Bajaj Finance, UPL, Tata Power, DLF, Indian Oil Corporation, and Hindustan Unilever, closed above their 20-day Simple Moving Average (SMA) on June 30, 2023. Crossing the 20 SMA indicates potential bullish momentum and a positive trend for these stocks. These companies operate in various sectors, such as automotive, mining, finance, agrochemicals, power, real estate, and consumer goods. However, it is important to note that this article was generated using AI, and the views expressed do not represent those of the Economic Times.

The Indian rupee strengthened slightly as importers showed interest in buying the currency after it reached its highest level since May. The rupee closed at 81.9575 per dollar, up from its previous close of 82.0375. The currency rose to a peak of 81.76 earlier in the session, its strongest level since May 8. While there is a bias for the rupee to further strengthen, it may consolidate between 82.30 and 81.60 levels. The dollar-buying interest is strong around 81.80 levels, and there is speculation that the Reserve Bank of India may have intervened.

Spot gold prices in the Delhi markets trading at Rs 59,150/10 grams, down by Rs 100 per 10 grams, as the strength in the rupee on the expectation of the dollar inflows also weighed on the domestic gold prices," Dilip Parmar, Research Analyst at HDFC Securities, said

After a recent rally, the Nifty index closed at a record high above 19,300 levels and has been consistently making higher highs and higher lows. Analysts suggest that the index needs to hold above the 19,250 zone to continue its upward movement towards the 19,400 and 19,500 zones. On the downside, support is seen at 19,100 and 19,000 levels. Traders should be cautious about potential profit booking due to temporary overbought conditions. Bank Nifty is also expected to continue its upward momentum with a target of 45,500 levels.

The Golden Crossover is a technical chart pattern used by traders and investors to assess stock movement. It occurs when a shorter-term moving average crosses above a longer-term moving average, creating a bullish signal. This pattern helps identify potential trend reversals and entry points for investors, and provides confirmation for long-term investors. Ten stocks that have experienced the Golden Crossover, including 3M India Ltd, ABB India Ltd, and Hero MotoCorp Ltd, have been highlighted by Trendlyne. However, it is important to note that the current market price may differ slightly from the closing price on Trendlyne.

Shares of Vasa Denticity surged 20% after investor Ashish Kacholia acquired a stake in the company. Kacholia purchased approximately 4.39 lakh shares while some existing shareholders sold their shares. Since its listing on the NSE SME platform, the stock has nearly tripled, increasing by around 207%. Vasa Denticity is an e-commerce dental products company and has plans to expand its portfolio and become a hub of innovation and quality for dental professionals. The company has shown strong financial growth with a high return on equity and capital employed, as well as increasing revenue and orders.