ACC, ITC: 14 stocks that look over-bought as per RSI, Stochastic indicators

The overbought scenario highlights the bulls getting exhausted and bears getting geared up. Technical indicators entering such scenario inhabit a slower rise in prices and reversal with profit booking

After the near 800-point rally in the S&P BSE Sensex over the past two sessions, there are some stocks that appear over-bought on the technical charts as per two broad indicators - the Stochastic and the Relative Strength Index (RSI). Most traders view such stocks for booking profit or a fresh trade. 

Relative Strength Index (RSI) is a momentum oscillator that identifies overbought and oversold conditions base on the changes in recent prices. It analyses the strength and important levels relevant to the stock price. Analysts, truly studying RSI are able to gauge the trend of a stock, profit booking levels