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 478.25 today, and closed the day at 551.1 marking a bullish candle.
The current RSI of SAREGAMA is at 68.84 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 551.1 per share with RSI value of 68.84. The RSI value has risen by 23.96 points since yesterday. This range shows that the stock is currently under bullish pressure.
In the past week, the average RSI was 45.68 which is lower than 50. This signals bearishness in the company’s share price. The stock has managed to stay below the level 50 for the past 4 day(s) showing consistently weakening momentum.
RSI Chart and Updates of SAREGAMA Shares
Latest RSI Updates:
- 2024-11-22: RSI is nearing oversold level of 40.
- 2024-11-28: Relative strength decreases with RSI dropping under 50.
- 2024-12-11: Momentum is gaining as RSI crossed above 50.
- 2024-12-31: Relative strength near oversold zone at 40.
- 2025-01-02: Relative strength decreases with RSI dropping under 50.
Short Term Analysis of SAREGAMA’s RSI
Previous week, SAREGAMA's RSI showed notable fluctuations, starting at 33.7145 and closing at 68.8372. There was a change of 35.12 points last week. In this week starting on 2024-12-30, Saregama India Limited's RSI value changed by 33.15. Through this week, the Strength Index made a high of 68.8372 and dipped to 33.7145.
This shift indicates a rise in momentum when compared to last week's closing RSI of 68.8372. The average RSI for the current week stands at 45.68, which increased from the previous week's average of 37.1.
Throughout the week, the RSI reached a high of 68.8372 and a low of 33.7145, illustrating the range of volatility in investor sentiment. This volatility is further underscored by the daily trends, where the RSI recorded 1 day(s) of rises and 4 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 53.01. 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 |
|---|---|---|---|
| 2024-12-26 | 36.19 | 468.25 | Neutral |
| 2024-12-27 | 35.69 | 466.8 | Bearish |
| 2024-12-30 | 33.71 | 461.1 | Neutral |
| 2024-12-31 | 35.67 | 464 | Bullish |
| 2025-01-01 | 45.3 | 480.1 | Bullish |
| 2025-01-02 | 44.88 | 479.15 | Bearish |
| 2025-01-03 | 68.84 | 551.1 | Bullish |
1. In the past 7 days, RSI and price moved in the same direction on 5 day(s), indicating consistent momentum.
2. The RSI remained within normal ranges, indicating no extreme overbought or oversold conditions in the past 7 days.
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 68.84 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 479.95.
Shares of Saregama India Limited have consistently stayed above the 9SMA since last 3 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 490.51. Another short term trend indicator is 21-day EMA, which is at Rs 491.57. Latest data show that the 14-day EMA is below the 21-day EMA. Therefore SAREGAMA's momentum is decreasing in short-term.
Long term trend indicator like 100-day SMA, closed at 517.52. When comparing SAREGAMA's current price of Rs 551.1 to this average, being above it indicates upward trend in the market over a more longer period.
Short term momentum is bearish and the longer period trend is bullish. This means there is disparity in price in both time frames.
Summary of SAREGAMA’s Momentum
SAREGAMA's current RSI of 68.84 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 weakening momentum. Furthermore, the 100-day SMA reflects a upward long-term trend.
