Five Nifty500 Stocks, Including Supreme Petrochem, Show Bullish RSI Upswing
Key Takeaways
- •Five Nifty500 stocks—Polycab India, GAIL (India), Supreme Petrochem, The Indian Hotels Company, and Gabriel India—were flagged in the RSI Trending Up scan on August 31, according to stockedge.com data.
- •Polycab India recorded the highest current RSI at 59.9, up from 47.1, with a market price of Rs 9,445.
- •The Indian Hotels Company showed the largest RSI improvement, rising from 36.73 to 56.1.
- •An RSI crossing above 50 signals a shift from bearish to bullish momentum territory, but it does not guarantee continued price gains.
- •Traders are advised to read RSI signals alongside price action, volume, and broader market conditions rather than in isolation.
Five Nifty500 Stocks, Including Supreme Petrochem, Show Bullish RSI Upswing
Five stocks from the Nifty500 pack appeared in the "RSI Trending Up" scan on August 31, according to data from stockedge.com. The scan flags an uptrend signal when a stock's Relative Strength Index (RSI) value crosses above 50 from below.
"RSI trending up" refers to a situation in which the RSI values of a stock are increasing, indicating strengthening momentum in its price. Traders often use this pattern to identify potential buying opportunities, as rising RSI values can point to possible upward price movement.
The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements, with readings above 50 generally associated with upward momentum and readings below 50 with downward momentum. Developed by technical analyst J. Welles Wilder and introduced in his 1978 book New Concepts in Technical Trading Systems, the RSI is typically calculated over a 14-day period and ranges from 0 to 100. It is one of the most widely used momentum indicators in technical analysis, and like all such tools, it is best read alongside price action, volume, and broader market conditions rather than in isolation.
An RSI crossing above 50 signals a shift from bearish to bullish momentum territory, but it is a momentum reading, not a guarantee of continued gains. Traders typically watch whether the indicator sustains above the 50 level in subsequent sessions and whether the stocks confirm the signal with follow-through price behaviour.
The scan covers a diverse set of sectors: Polycab India is a leading wires and cables manufacturer, GAIL (India) is the country's largest natural gas transmission and marketing company, Supreme Petrochem is a major producer of polystyrene, The Indian Hotels Company operates the Taj-branded hospitality portfolio, and Gabriel India is an auto components maker supplying shock absorbers and struts. The five stocks highlighted in the scan, along with their current RSI, previous RSI, and current market price (CMP), are as follows:
Polycab India
RSI: 59.9 | Previous RSI: 47.1 | CMP: Rs 9,445
GAIL (India)
RSI: 56.81 | Previous RSI: 44.34 | CMP: Rs 177.5
Supreme Petrochem
RSI: 56.66 | Previous RSI: 46.86 | CMP: Rs 729.05
The Indian Hotels Company
RSI: 56.1 | Previous RSI: 36.73 | CMP: Rs 737.9
Gabriel India
RSI: 54.42 | Previous RSI: 44.96 | CMP: Rs 1,437.9
