Was thinking yesterday about “is there is a more simplistic way, where we can list out the stocks with exponential rise in price aka bubbles.” Suddenly this simple thought process strikes my mind. It is a good old classical analysis idea using RSI(2) but on the yearly timeframe with RSI(2)>99.
The idea is relative strength index of 2 period over yearly timeframe indicates a possible exponential price formation in otherwords we can call it as extremely overbought and people are really crazy about such stocks and market participants are driving it madly high and higher year on year.
Here is the simple exploration code applied over NSE Cash scrips and found out over 136 scrips with RSI>99. By the way RSI(2) – Yearly for Nifty index is at 92.95.
Here is the list of stocks from the exploration scan. Make sure you are not holding it one from the pack 🙂
| Ticker | Date/Time | Close | RSI2-Yearly |
|---|---|---|---|
| AARTIIND | 42828 | 789.5 | 99.84 |
| AEGISCHEM | 42828 | 196.55 | 99.59 |
| ALICON | 42828 | 444.8 | 99.16 |
| AMARAJABAT | 42828 | 908.35 | 99.93 |
| AMBIKCO | 42828 | 1325.1 | 99.79 |
| APLAPOLLO | 42828 | 1202.55 | 99.6 |
| ASAHISONG | 42828 | 277.35 | 99.38 |
| ASIANPAINT | 42828 | 1089.85 | 99.82 |
| ASIANTILES | 42828 | 368.2 | 99.36 |
| ATUL | 42828 | 2367.05 | 99.87 |
| BAJAJFINSV | 42828 | 4098.25 | 99.45 |
| BALAMINES | 42828 | 377.8 | 99.71 |
| BALKRISIND | 42828 | 1410 | 99.96 |
| BANARBEADS | 42828 | 78.9 | 100 |
| BEARDSELL | 42828 | 440.15 | 99.59 |
| BERGEPAINT | 42828 | 248.3 | 99.87 |
| BHARATRAS | 42828 | 3017.8 | 99.85 |
| BODALCHEM | 42828 | 165.3 | 99.73 |
| BROOKS | 42828 | 138.95 | 99.63 |
| CANFINHOME | 42828 | 2324.3 | 99.95 |
| CAPF | 42828 | 769.1 | 100 |
| CARBORUNIV | 42828 | 291.05 | 99.73 |
| CCL | 42828 | 338.8 | 99.74 |
| CEATLTD | 42828 | 1335.3 | 99.62 |
| CERA | 42828 | 2920.7 | 99.99 |
| CEREBRAINT | 42828 | 39.75 | 100 |
| CHEMFALKAL | 42828 | 292.65 | 99.5 |
| CNX AUTO | 42828 | 9921.1 | 99.61 |
| CNX Energy | 42828 | 11819.4 | 99.44 |
| CNX FMCG | 42828 | 23639.6 | 100 |
| CNX MNC | 42828 | 11022.55 | 100 |
| DABUR | 42828 | 280.3 | 99.83 |
| DALMIABHA | 42828 | 1970.65 | 100 |
| DALMIASUG | 42828 | 178.55 | 99.35 |
| DEEPIND | 42828 | 327.8 | 99.34 |
| DHFL | 42828 | 372.8 | 100 |
| DWARKESH | 42828 | 459.5 | 99.25 |
| EICHERMOT | 42828 | 25543.65 | 100 |
| EMMBI | 42828 | 156.5 | 99.67 |
| ESCORTS | 42828 | 537.5 | 99.06 |
| FILATEX | 42828 | 121.6 | 99.21 |
| FINPIPE | 42828 | 590.2 | 99.61 |
| FLFL | 42828 | 272.4 | 99.82 |
| GABRIEL | 42828 | 125.2 | 99.03 |
| GANDHITUBE | 42828 | 335.5 | 99 |
| GARWALLROP | 42828 | 723.05 | 99.52 |
| GHCL | 42828 | 268.9 | 99.18 |
| GODREJCP | 42828 | 1695.9 | 99.99 |
| GOLDINFRA | 42828 | 79.05 | 99.33 |
| GREENPLY | 42828 | 283.1 | 99.66 |
| GRUH | 42828 | 399.3 | 99.96 |
| GUJALKALI | 42828 | 409.05 | 99.66 |
| HARITASEAT | 42828 | 697.35 | 99.16 |
| HAVELLS | 42828 | 468.8 | 99.91 |
| HDFCBANK | 42828 | 1433.2 | 99.53 |
| HERITGFOOD | 42828 | 1095.9 | 99.16 |
| HIMATSEIDE | 42828 | 342.5 | 99.51 |
| HINDPETRO | 42828 | 518.6 | 99.03 |
| HITACHIHOM | 42828 | 1820.65 | 99.68 |
| IGARASHI | 42828 | 806.15 | 99.24 |
| IGPL | 42828 | 379.6 | 99.45 |
| INDTERRAIN | 42828 | 168.6 | 99.43 |
| INDUSINDBK | 42828 | 1403.45 | 99.83 |
| JBMA | 42828 | 280.05 | 99.69 |
| JSWHL | 42828 | 1524.8 | 100 |
| KAKATCEM | 42828 | 330.95 | 99.22 |
| KANSAINER | 42828 | 374 | 99.88 |
| KEI | 42828 | 189.65 | 99.15 |
| KOTAKBANK | 42828 | 875.95 | 99.62 |
| KRBL | 42828 | 420.25 | 99.8 |
| LANCOIN | 42828 | 389.25 | 99.53 |
| LUMAXIND | 42828 | 1374.8 | 99.49 |
| M100 | 42828 | 17.99 | 99.74 |
| MARICO | 42828 | 296.55 | 99.93 |
| MARUTI | 42828 | 6072 | 99.41 |
| MINDAIND | 42828 | 440.35 | 99.65 |
| MORARJEE | 42828 | 57.25 | 100 |
| MOTILALOFS | 42828 | 754 | 99.02 |
| MRF | 42828 | 60993.55 | 99.93 |
| N100 | 42828 | 399.52 | 100 |
| NATCOPHARM | 42828 | 864.8 | 99.92 |
| NAVINFLUOR | 42828 | 3136.85 | 99.77 |
| NEULANDLAB | 42828 | 1498.2 | 99.85 |
| NILKAMAL | 42828 | 2001.45 | 99.14 |
| NOCIL | 42828 | 95.85 | 99.07 |
| OCL | 42828 | 937.35 | 99.73 |
| PAGEIND | 42828 | 14579.25 | 99.99 |
| PANAMAPET | 42828 | 167.6 | 99.15 |
| PAPERPROD | 42828 | 245.7 | 99.66 |
| PEL | 42828 | 1936.05 | 100 |
| PIDILITIND | 42828 | 702.95 | 99.88 |
| PVR | 42828 | 1437.4 | 99.8 |
| RAMCOCEM | 42828 | 674.65 | 100 |
| RBL | 42828 | 1028.65 | 99.57 |
| RUCHIRA | 42828 | 168.45 | 99.75 |
| SHILPI | 42828 | 222.1 | 100 |
| SHIVTEX | 42828 | 365.4 | 99.56 |
| SHREECEM | 42828 | 17169.65 | 99.61 |
| SHREYANIND | 42828 | 138.35 | 99.42 |
| SIYSIL | 42828 | 1698 | 99.41 |
| SOMANYCERA | 42828 | 693.85 | 99.86 |
| SONASTEER | 42828 | 82.1 | 99.41 |
| SRF | 42828 | 1662.05 | 99.26 |
| STARPAPER | 42828 | 180.9 | 99.15 |
| STEL | 42828 | 70.95 | 99.48 |
| STERTOOLS | 42828 | 224.1 | 99.84 |
| SUBROS | 42828 | 218 | 99.41 |
| SUMMITSEC | 42828 | 582.25 | 99.41 |
| SUNCLAYLTD | 42828 | 3671.45 | 100 |
| SUPPETRO | 42828 | 313.8 | 99.84 |
| SUPRAJIT | 42828 | 240.05 | 99.91 |
| SUPREMEIND | 42828 | 1102.1 | 99.97 |
| SWARAJENG | 42828 | 1482.6 | 99.51 |
| TAINWALCHM | 42828 | 57 | 99.26 |
| TIIL | 42828 | 451 | 99.56 |
| TIRUMALCHM | 42828 | 893.1 | 99.26 |
| TOKYOPLAST | 42828 | 120.8 | 99.57 |
| TRENT | 42828 | 271.9 | 99.43 |
| TRIDENT | 42828 | 85.4 | 99.54 |
| TTKPRESTIG | 42828 | 5872.1 | 99.99 |
| TVSMOTOR | 42828 | 436.1 | 99.53 |
| TVSSRICHAK | 42828 | 3496.25 | 99.91 |
| UNIPHOS | 42828 | 735.45 | 99.64 |
| UNIPLY | 42828 | 314.85 | 99.75 |
| UPERGANGES | 42816 | 377.7 | 99.16 |
| V2RETAIL | 42828 | 191.3 | 99.9 |
| VAKRANSOFT | 42828 | 329.15 | 99.98 |
| VARDHACRLC | 42828 | 54 | 99.36 |
| VESUVIUS | 42828 | 1244.95 | 99.81 |
| VHL | 42828 | 2908.15 | 99.8 |
| VINATIORGA | 42828 | 745.6 | 99.94 |
| VSSL | 42828 | 159.45 | 99.55 |
| VSTTILLERS | 42828 | 1791.6 | 99.83 |
| VTL | 42828 | 1358.85 | 99.54 |
| WHEELS | 42828 | 1329.7 | 99.31 |
| ZEEL | 42828 | 528.55 | 99.45 |
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