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30 stocks are trading with negative crossovers on RSI since last 10 days

In recent times, the crossovers of 14-day moving average (MA) with 9-day exponential moving average (EMA) have been analysed to identify an immediate trend.

Avdhut Bagkar  |  Mumbai 

Bonds, Stock markets, Shares, Trading

The benchmark indices recently crossed significant breakout levels with crossing 10,985 and S&P BSE breaching 36,554 levels. However, several are still trading with negative crossover on (RSI).

The measures the speed, strength and variations in the price movements. The momentum oscillator as described by Welles Wilder Jr. identifies overbought and oversold regions, namely 70 and 30. The scale varies from 0 to 100, within which the indicator swings. It helps to determine the possible top and bottom, as reversal indicator.

In recent times, the crossovers of 14-day moving average (MA) with 9-day exponential moving average (EMA) have been analysed to identify an immediate trend. When 14-day MA crosses 9-day EMA, it is considered as positive trend and vice versa.

30 are trading with negative crossovers since the last 10 sessions -

The major include Adani Enterprises, Canara Bank, Ceat,

ADANIENT

INFRATEL

ALBK

IRB

APOLLOTYRE

JINDALSTEL

BANKINDIA

JPASSOCIAT

BEML

L&TFH

BHARATFIN

LT

CANBK

M&MFIN

CANFINHOME

ORIENTBANK

CEATLTD

POWERGRID

CGPOWER

PTC

CHENNPETRO

SAIL

DHFL

SUNTV

EXIDEIND

SYNDIBANK

FEDERALBNK

TATACHEM

INDIACEM

VGUARD

The above stocks are trading with negative crossover even when benchmark indices showed strength. They may head towards oversold region of 30 level, chart suggests.

Four stocks currently in oversold region: -

ARVIND

ASHOKLEY

COALINDIA

LT

Here are the stocks trading in negative crossovers, after benchmark indices accomplished breakout:

AIAENG

MUTHOOTFIN

ALLCARGO

NFL

BASF

NHPC

BHEL

NIACL

BLUESTARCO

PFIZER

BOSCHLTD

PIDILITIND

CASTROLIND

RAJESHEXPO

COFFEEDAY

RCOM

EQUITAS

RNAM

EVEREADY

SHILPAMED

FDC

SHRIRAMCIT

GEPIL

STAR

GLENMARK

TAKE

GODFRYPHLP

TATAPOWER

GRAPHITE

TCS

HATSUN

TIMETECHNO

HDFCBANK

TITAN

HEIDELBERG

TRENT

INFY

TVSMOTOR

INOXLEISUR

UBL

JSWENERGY

UNICHEMLAB

KANSAINER

VINATIORGA

LAURUSLABS

VOLTAS

MCDOWELL-N

MOTHERSUMI

First Published: Thu, January 24 2019. 09:56 IST
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