Supreme Industries Among 4 Nifty500 Stocks with RSI Trending Up
Key Takeaways
- •Four Nifty500 stocks—Supreme Industries, Zydus Lifesciences, Narayana Hrudayalaya, and Nippon Life India Asset Management—were flagged by the RSI Trending Up scan on September 7 after gaining over 2.5% each.
- •The scan triggers when a stock's RSI crosses above the 50 level from below, a threshold viewed as marking a shift from weak to strengthening momentum.
- •Supreme Industries, a leading Indian plastics processor, recorded the highest RSI among the four at 54.94, up from 44.79, with a closing price of Rs 3,598.
- •Nippon Life India Asset Management, majority-owned by Japan's Nippon Life Insurance Company, saw its RSI rise from 42.91 to 51.85, closing at Rs 1,195.
- •RSI crossovers are generally used by traders alongside price action, volume, and fundamental analysis rather than as standalone signals.
Supreme Industries Among 4 Nifty500 Stocks with RSI Trending Up
On September 7, four Nifty500 stocks that gained more than 2.5% each were flagged by the RSI Trending Up scan, according to data from StockEdge. The signal is triggered when a stock's Relative Strength Index (RSI) value crosses above the 50 level from below, a threshold commonly viewed as the dividing line between weak and strengthening momentum.
"RSI trending up" means that the RSI values are rising, indicating that momentum in the stock's price is strengthening. The RSI itself is a widely used technical indicator that measures the speed and magnitude of recent price changes on a scale from 0 to 100, helping traders assess price momentum and trend strength. Developed by J. Welles Wilder and introduced in his 1978 book New Concepts in Technical Trading Systems, the RSI is a standard feature on most charting platforms. Readings above 70 are conventionally associated with overbought conditions and readings below 30 with oversold conditions, though crossovers of the 50 midline, as tracked by this scan, are followed by many momentum-oriented traders as an indication of shifting trend strength. Like all technical indicators, RSI crossovers are one input among many and are typically used alongside price action, volume, and fundamental analysis rather than in isolation.
The four stocks highlighted by the scan, along with their latest RSI readings, previous RSI values, and closing market prices, are listed below.
Supreme Industries
RSI: 54.94 | Prev. RSI: 44.79 | CMP: Rs 3,598
A leading Indian plastics processor, Supreme Industries makes products spanning piping systems, packaging, and consumer goods.
Zydus Lifesciences
RSI: 53.47 | Prev. RSI: 45.48 | CMP: Rs 1,156.9
An Ahmedabad-based pharmaceutical company with a portfolio spanning generics, specialty drugs, and vaccines.
Narayana Hrudayalaya
RSI: 52.41 | Prev. RSI: 44.13 | CMP: Rs 1,911.8
Narayana Hrudayalaya operates a network of multi-specialty hospitals with a significant presence in cardiac care.
Nippon Life India Asset Management
RSI: 51.85 | Prev. RSI: 42.91 | CMP: Rs 1,195
Nippon Life India Asset Management is an asset manager, majority-owned by Japan's Nippon Life Insurance Company, offering mutual fund products in the Indian market.
Traders watching such momentum screens typically track whether the RSI continues to rise or slips back below 50 in subsequent sessions, and whether the price gains that accompanied the crossover are sustained on adequate volume.
Source: Economic Times Markets, data via StockEdge.
