Four Indian stocks appeared in StockEdge’s “RSI Trending Up” scan on October 22 after each gained more than 3%.
The companies flagged were International Gemological Institute, Tata Teleservices (Maharashtra), ITC Hotels and Balkrishna Industries.
What the scan means
RSI is short for relative strength index, a widely used technical indicator. Traders look at it to judge whether a stock’s recent price momentum is getting stronger or weaker. A scan labelled “RSI trending up” picks out shares where that reading is rising, which usually goes hand in hand with buying interest. In this case, the four names also posted daily gains of more than 3%.
The companies
The list covers a mix of businesses. Tata Teleservices (Maharashtra) is in telecom. ITC Hotels operates in hospitality. Balkrishna Industries and International Gemological Institute round out the group. Their appearance together reflects a common technical signal rather than any shared news about the companies themselves.
How to read it
Scans of this kind are a screening tool. They highlight stocks whose price action has caught the attention of momentum-focused traders, and they are often a starting point for further research instead of a reason to buy on their own. A rising RSI can show growing strength, but it does not guarantee that a rally will continue.
Investors who follow technical signals usually combine them with other measures, such as trading volumes, support and resistance levels and company fundamentals, before making decisions.
For now, the key facts are straightforward: on October 22, four stocks, including Tata Teleservices, made StockEdge’s RSI Trending Up list after rising by more than 3%.