The Nifty touches above the 5100 for the first time since Jan 21.and closed below 5100
The Nifty touches above the 5100 for the first time since January 21.and closed below 5100
The markets have been remaining range-bound over the last three months. The markets have corrected 12% from its high to a low in 2010.
Top Gainers since Jan 21
Siemens 12.3%
Hero Honda 10%
Sun Pharma 7.6%
Idea 7.6%
BHEL 7.2%
Top Losers since Jan 21
Bharti -6.1%
Rel Capl -6.3%
NTPC -7.4%
RCom -10%
DLF -14.6%
Stocks in focus
Stocks with low RSI have a potential upside if markets edge higher
Lower growth seen in higher RSI counters
Higher RSI counters have already outperformed markets so far
Trend indicates upside for oil counters
BPCL, ONGC and GAIL could be best in upmove
Auto, Cap Goods, Banking counters have seen the maximum rise
RSI of these counters trading above neutrality zone of 50
RSI indicates that if the trend is negative, these counters could correct
HDFC Bank trading in overbought zone, may see downside
Siemens, L&T few counters which could correct in downmoves
RSI: Relative Strength Index
RSI above 70 indicates stock is overbought
RSI below 30 indicates stock is oversold
RSI for certain stocks indicates potential gains
Low RSI and underperformance since Jan 21
Percentage change since Jan 21 RSI
DLF -14.6% 45
RCom -10% 47
BPCL -5.8% 36
ONGC -3.1% 42
GAIL -1.4% 45
High RSI and steep increase in price
Percentage change since Jan 21 RSI
Siemens 12.3% 66
Hero Honda 10% 68
Hindalco 5.1% 66
L;T 5.6% 66
HDFC Bank 4.1% 71