While performing technical analysis of SAREGAMA, RSI becomes one of the most important indicators to study stock momentum. Other indicators like, SMA and EMA are useful tools that traders can use to analyze overbought or oversold zones.
Saregama India Limited is a Communication Services sector stock and is listed on both NSE and BSE under symbol NSE:SAREGAMA. The company opened at 573.8 today, and closed the day at 548.45 marking a bearish candle.
The current RSI of SAREGAMA is at 63.38 implies that the stock is not in overbought/oversold zone. 9 period SMA, a short term moving average which is used as a trend following indicator is below share price of Saregama India Limited.
Also read - SAREGAMA long term target analysis | SAREGAMA analysis for tomorrow
SAREGAMA’s Current and Past Week RSI Values
SAREGAMA is trading at rs 548.45 per share with RSI value of 63.38. The RSI value has fallen by 9.1 points since yesterday. This range shows that the stock is currently under bullish pressure.
In the past week, the average RSI was 69.34 which is higher than 50. This signals bullishness in the company’s share price. The stock has managed to stay above the level 50 for the past 3 day(s) showing consistently strengthening momentum.
RSI Chart and Updates of SAREGAMA Shares
Latest RSI Updates:
- 2024-11-28: RSI has declined below 50, indicating bearish momentum.
- 2024-12-11: RSI has risen above 50, indicating bullish momentum.
- 2024-12-31: RSI is nearing oversold level of 40.
- 2025-01-02: Momentum is weakening as RSI fell below 50.
- 2025-01-07: Momentum is excessive, RSI surpassed 70.
Short Term Analysis of SAREGAMA’s RSI
Previous week, SAREGAMA's RSI showed notable fluctuations, starting at 72.1644 and closing at 63.3822. There was a change of -8.78 points last week. In this week starting on 2025-01-06, Saregama India Limited's RSI value changed by -1.53. Through this week, the Strength Index made a high of 72.483 and dipped to 63.3822.
This shift indicates a decline in momentum when compared to last week's closing RSI of 63.3822. The average RSI for the current week stands at 69.34, which increased from the previous week's average of 44.9.
Throughout the week, the RSI reached a high of 72.483 and a low of 63.3822, illustrating the range of volatility in investor sentiment. This volatility is further underscored by the daily trends, where the RSI recorded 3 day(s) of rises and 0 day(s) of declines. Such movements provide insights into the short-term trading momentum and the overall trading behavior of SAREGAMA.
SAREGAMA’s Long Term Relative Strength Index Evaluation
In long term review of Saregama India Limited, the monthly RSI data shows rising momentum with an average value of 60.52. If we compare previous month value to that of its previous three months, the stock has outperformed.
This data makes it clear that there is a shift in momentum in the stock from bearish to bullish in the longer term.
SAREGAMA’s RSI and Price Correlation
While analysing momentum, it's important that we study Saregama India Limited's price and RSI together. In the last 7 days, when the RSI of SAREGAMA was gaining momentum its price was rising.
| Date | RSI | Price | Implication |
|---|---|---|---|
| 2024-12-31 | 35.67 | 464 | Neutral |
| 2025-01-01 | 45.3 | 480.1 | Bullish |
| 2025-01-02 | 44.88 | 479.15 | Bearish |
| 2025-01-03 | 64.92 | 532.6 | Bullish |
| 2025-01-06 | 72.16 | 568.15 | Overbought |
| 2025-01-07 | 72.48 | 570 | Overbought |
| 2025-01-08 | 63.38 | 548.45 | Bearish |
1. In the past 7 days, RSI and price moved in the same direction on 4 day(s), indicating consistent momentum.
2. The RSI entered overbought territory on 2 day(s), indicating possible price pullbacks.
3. No significant divergences were detected, suggesting stable momentum without clear signals for trend reversal.
Is SAREGAMA Overbought or Oversold?
RSI can be used to determine overbought and oversold zones. SAREGAMA's Relative Strength value of 63.38 shows that the stock is not in overbought or oversold zone.
9 Day SMA Analysis
9SMA is a useful trend-following indicator that is helpful in identification of short term trend. Currently SAREGAMA closed above its 9SMA value of 507.82.
Shares of Saregama India Limited have consistently stayed above the 9SMA since last 6 day(s). It is therefore bullish in short term.
SAREGAMA’s 14, 21 Exponential Moving Average and 100 Day Simple Moving Average
14-day EMA is an indicator that is sensitive to short-term price movements. Currently 14EMA is at 513.59. Another short term trend indicator is 21-day EMA, which is at Rs 507.71. Latest data show that the 14-day EMA is above the 21-day EMA. Therefore SAREGAMA's momentum is increasing in short-term.
Long term trend indicator like 100-day SMA, closed at 519.5. When comparing SAREGAMA's current price of Rs 548.45 to this average, being above it indicates upward trend in the market over a more longer period.
Short term momentum is bullish and the longer period trend is bullish. This means there is no disparity in price in both time frames.
Summary of SAREGAMA’s Momentum
SAREGAMA's current RSI of 63.38 indicates that the stock is bullish momentum. The 9-day SMA shows a bullish short-term trend, while the 14-day and 21-day EMAs suggest a strengthening momentum. Furthermore, the 100-day SMA reflects a upward long-term trend.
