Four Nifty 500 shares posted Relative Strength Index readings above 50 on Oct. 23, The Economic Times reported, highlighting a technical momentum screen that coincided with higher closes for all four.
The Economic Times, citing StockEdge data, reported readings of 54.92 for Ipca Laboratories, 54.00 for Shree Cement, 53.95 for JSW Cement and 50.04 for Oil & Natural Gas Corporation (ONGC). Their previous readings were 48.13, 47.58, 46.23 and 45.19, respectively. Ipca had the highest reported value; ONGC was 0.04 points above the screen’s threshold.
The outlet said the scan covered Nifty 500 stocks and flagged readings that crossed 50 from below. StockEdge’s RSI guide describes the measure as tracking price momentum and treats readings from 30 to 70 as normal. All four reported readings were within that range.
Choice India historical data lists higher closes for each share on Oct. 23 than on Oct. 22. Ipca closed at INR 1,953.30, up from INR 1,903.50; Shree Cement ended at INR 22,735, compared with INR 22,330. JSW Cement closed at INR 116.98, versus INR 114.69, while ONGC finished at INR 227.50, after INR 225.
The Oct. 23 screen followed a separate Oct. 22 scan of four other Nifty 500 shares, also reported by The Economic Times. EconoTimes covered that earlier RSI screen.
