The relative strength index (RSI) is at 33.1. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. MACD is below its signal and center line, this is a strong bearish indicator.
Short-term market weakness likely; defensive sectors poised to outperform: Rohit Srivastava
Rohit Srivastava suggests the recent market rally from early April might be ending, entering a corrective phase influenced by geopolitics and the upcoming FOMC meeting.