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

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

The RSI 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 stocks are trading with negative crossovers since the last 10 sessions -

The major stocks include Adani Enterprises, Canara Bank, Ceat, L&T and Tata Chemicals.

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 RSI 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