RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein, the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, apart from determining the likely uptrend or uptrend, RSI also enables an understanding of the stock’s overvalued or oversold state. So, here are 5 major midcap stocks which signal a possible uptrend in the near term. Note the data is from the previous day as today’s data is updated after market hours. (Source: StockEdge)Significance of RSI moving upThis is a bullish signal as the RSI has crossed above 50 from below.

Asian Paints' shares fell over 4% after the release of the June quarter earnings, which saw a consolidated net profit of INR1,550.37 crore ($208.71m), up 52.5% YoY. Consolidated revenue from operations increased almost 7% YoY to INR9,182.31 crore. The slump in the stock was mainly due to profit-booking as the data showed strong performance and was already priced in. The company had seen double‐digit volume and healthy value growth in the Indian decorative business; however, the international business was constrained due to the uncertain global macroeconomic environment.

Several companies in India, including Varun Beverages, KPIT Technologies, Siemens, Bosch, Tata Chemicals, and EID-Parry, crossed their 50-day Simple Moving Average (SMA) on July 24, indicating potential uptrends in their stock prices. Varun Beverages and KPIT Technologies showed robust performance, while Siemens, Bosch, Tata Chemicals, and EID-Parry demonstrated positive momentum with their stocks crossing the 50-day SMA. These companies operate in diverse sectors, including manufacturing, IT consulting, engineering, and consumer products.

The bank had posted a 42 per cent rise in net profit at Rs 1,147 crore for the June quarter, as against Rs 807 crore in the year-ago period. The total income in the first quarter of the current fiscal rose to Rs 5,757 crore, from Rs 4,081 crore in the same period a year ago.

The RSI is a momentum oscillator that ranges from 0 to 100 and is used to assess the strength and direction of a stock's price movements. An RSI value above 70 indicates that a stock is in an overbought zone and may be ripe for a price correction, while an RSI below 30 signifies an oversold condition and the potential for a rebound.

ET Markets Exclusive: Catch us live as we talk to Mr. Yatharth Tyagi, Whole Time Director at Yatharth Hospital & Trauma Care Services Limited on the company's IPO, financials & more!

Monitoring the activity of institutional investors can be highly beneficial for individual investors, especially considering their tendency to make substantial investments following thorough research. According to an ETMarkets study, foreign institutional investors (FIIs) have consistently increased their holdings in 93 smallcaps listed on the BSE in the last four quarters (Sept 2022 - June 2023). Our analysis reveals that out of these 93 stocks, 73 have delivered double-digit returns in the past year. Remarkably, 19 stocks from the list have experienced a multi-bagger effect, while we have highlighted 8 stocks that have surged by over 150 percent during the same period (Data Source: ACE Equity).

The RSI is a momentum oscillator that measures the speed and magnitude of price movements. It ranges between 0 and 100, with readings above 70 indicating overbought conditions and below 30 indicating oversold. A rising RSI trend typically signifies an increasing bullish momentum.

Over 78 stocks were trading in an overbought zone on July 24, identified by the Relative Strength Index (RSI) as having risen too quickly and requiring a price correction. Economic Times has selected ten stocks, including Esab India, Aarti Drugs, and Tata Motors, as their top buys from the overbought list. The RSI operates within a range of 0-100, with readings of 70 or higher indicating overbought, and readings below 30 showing oversold. The list will be updated for the following day for investors to conduct further research before investing.

Aviation watchdog DGCA has taken SpiceJet off its enhanced surveillance regime, PTI reported quoting a senior official. The senior DGCA official said that in view of the observations made in the past concerning inadequate maintenance and in view of the incidents during the monsoon season last year, SpiceJet was placed under enhanced surveillance.

The RSI is a momentum oscillator that measures the speed and change of a stock's price movements. RSI values range from 0 to 100, with readings above 70 indicating overbought conditions, and readings below 30 indicating oversold conditions.

As nifty continues to form a new high every day, more number of mid-caps stocks are joining the party. Stocks from sectors like logistics, mid sized banks and FMCG have come to the list. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

Revenues from the India business rose by a marginal 3% to Rs 34,901 crore for the quarter under review. India's EBITDA was at Rs 7,514 crore, a decline of 22%. This translates into EBITDA per ton of Rs 15,651 and a margin of 22%.

It was after almost six quarters that quarterly results of TCS were able to help in improving the sentiment toward the IT stocks. But that was short lived as the result and guidance of Infy reversed the sentiment toward bears. But is the worst over or it is still to continue. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Meanwhile, revenue for the company decreased 23% to Rs 475 crore in the April-June quarter as compared with the same period a year before. Revenues for the company have fallen due to lower volumes in Europe and LATAM regions on account of high inflation, ongoing recession, and adverse weather conditions.

The company posted its highest-ever operating EBITDA at Rs 764 crore, with a growth of 27% for the first quarter. It was Rs 599 crore in the corresponding quarter of the previous year. EBITDA margins improved 60 basis points at 10.6% against 10% in the year-ago period.

On Friday, DLF reported a net profit of Rs 527 crore for Q1FY24 which was up from Rs 470 crore in the same period last year. Revenue from operations during the quarter, however, fell by a marginal 1% to Rs 1,423 crore in the June quarter. The same stood at Rs 1,441 crore a year ago.

Technically, the day RSI (14) is at 81.2. The RSI below 30 is considered oversold and above 70 is overbought, Trendlyne data showed. MACD is at 2.6, which is above its center and signal Line, this is a bullish indicator.

The stock rose from Rs 160.50 recorded on 21st March 2023 to Rs 229 as on 21st July 2023 which translates into an upside of 43%.

On Friday, DLF reported a net profit of Rs 527 crore for Q1FY24 which was up from Rs 470 crore in the same period last year. Revenue from operations during the quarter, however, fell by a marginal 1% to Rs 1,423 crore in the June quarter. The same stood at Rs 1,441 crore a year ago.

Mutual funds increased their stakes in seven out of 10 listed Adani Group companies in the quarter ended June, and retail investors in five, while FPIs reduced their ownership in six companies.

Other than the typical market behaviour of 'buy the rumour, sell the news', the single biggest stress point for investors has been the fact that ITC has chosen not to go for a clean demerger which restricts value unlocking for shareholders.

The June quarter shareholding pattern data shows that FIIs pared their stake in Infosys by another 165 bps to 33.44%. In the case of Tech Mahindra, which will report its Q1 results on Wednesday, FII holding went down by 118 bps to 25.69%.

Based on the idea of the chairman and CEO of Berkshire Hathaway Warren Buffett, a custom screen made by MarketSmith emphasizes metrics looking for companies with long-term past and potential future growth. If you are one of those investors who follow the investment philosophy laid down by Buffett, then a custom screen made by MarketSmith can prove to be useful. Investors must study the business as well as valuations in detail before making a call.Here are 8 stocks that match Warren Buffett’s style of investing, as listed on MarketSmith:

ITC said on Monday it would spin off the hotel business, separating it from its cigarettes and food units, but retain a 40% stake in the new entity, with ITC shareholders holding the rest. The company's stock ended nearly 4% lower on Monday.

“We have reinitiated coverage on Havells India with a buy rating and a target of Rs 1,580. We expect the company to maintain its premium valuations given: a) the 29% earnings CAGR over FY23-25 and b) strong return ratios (RoE/ROCE of 21%/20% and c) RoIC of 30% in FY25),” Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

Among Sensex stocks, Tata Motors, JSW Steel, UltraTech Cement, M&M, Sun Pharma, Airtel, and Bajaj Finance opened with gains, while Asian Paints, Infosys, ITC, Wipro, and Maruti opened with cuts.

The Nifty kept changing its stance from negative to positive zones. But it finally succumbed to selling pressure at the end of the day.

Opening Bell: Sensex gains 50 points, Nifty tests 19,700; SJVN surges 9%, Coffee Day Enterprises tanks 5%.

The June quarter shareholding pattern data shows that FIIs pared their stake in Infosys by another 165 bps to 33.44%. In the case of Tech Mahindra, which will report its Q1 results on Wednesday, FII holding went down by 118 bps to 25.69%.

Bearish reversal scans on the candlestick screener help ascertain stocks which can slip downward from an uptrend zone. Here is a list of 4 major large, midcap stocks that have established a Shooting Star pattern and signal bearish reversal. Note here the data is of the previous trading session i.e. July 24. (Source: StockEdge)

Larsen & Toubro’s daily trend is bullish to sideways. RSI for monthly, weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 2400 and 2700. Let’s plan a trade around this.

CLSA downgraded DLF to outperform with a target of Rs 547. The housing demand momentum continues, which is positive for the stock.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Hero Moto and Balrampur Chini, while Nooresh Merani has a buy/sell recommendation on NTPC and Hero Moto for today's trading session. Check out the targets and stoploss.

Bearish reversal scans on the candlestick screener help ascertain stocks which can slip downward from an uptrend zone. Here is a list of 4 major large, midcap stocks that have established a Shooting Star pattern and signal bearish reversal. Note here the data is of the previous trading session i.e. July 24. (Source: StockEdge)

Four stocks on NSE, with a market cap of over Rs 100 crore, are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on July 24.

In the Nifty200 pack, we have collated a list of six stocks that witnessed a 5-year swing high at the close on July 24, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

On the candlestick screener scan performed on Monday, a bullish reversal pattern helped identify stocks that can see an uptrend from a downward zone in the future. So, here are 4 major stocks that have established a Bullish Harami Cross pattern and hint at a bullish reversal in the future. (Source: StockEdge)

On the monthly front, the maximum Call OI is placed at 19800 and then towards 19900 strikes while the maximum Put OI is placed at 19700 and then towards 19500 strikes. Call writing is seen at 19700 then 19800 strike while Put writing is seen at 19400 then 19500 strike.

On NSE, 11 stocks with a market cap of over Rs 1000 crore crossed above their 200 DMA (Daily Moving Averages) on July 24, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Stocks that were in focus include names like ITC, which fell 4.30%, IndusInd Bank, which rose 1.96%, and Aarti Drugs, whose shares surged 18% on Monday.

Nifty futures traded 20 points, or 0.10 per cent, lower at 19,718, signaling that Dalal Street was headed for a negative start on Tuesday. Here's a slew of stocks that will be in focus today for various reasons.

The Shanghai Composite Index was 1.55% higher, while Hong Kong's benchmark Hang Seng Index surged 3.4% after China's top leaders pledged on Monday to step up policy support for the economy amid a tortuous post-COVID recovery, focusing on boosting domestic demand and signalling more stimulus steps.

Investors are awaiting Microsoft, Google-owner Alphabet and Meta Platforms earnings this week, which will show whether their stocks justify sky-high valuations.

Option data suggests a shift in trading range in between 19500 to 20200 zones while an immediate trading range in between 19600 to 20000 zones.

Tata Steel's consolidated net profit fell 92% year-on-year to Rs 634 crore for the first quarter ended June. Revenue from operations declined 6% to Rs 59,490 crore.

The regulator is also working on instantaneous settlement of stock market transactions and reviewing the trading plan mechanism for insiders at listed firms. Sebi will issue a discussion paper on the delisting process before December.

The insurance buyout will allow Kolkata-based Bandhan, which began as a microfinance company, to expand its remit beyond banking and asset management. The stake purchase is subject to regulatory approvals. The value of the buyout, and the quantum of proceeds to each of the exiting stakeholders, weren't immediately known.

Some 71% of respondents reported such an outlook in results of the poll, published Monday. That marks a sharp turnaround from NABE's previous survey in April, which showed an almost even split between those forecasting a downturn and those who were not.