The Relative Strength Index (RSI) is a tool used in trading to check how fast and how much a stock or sector’s price is changing. It has a scale from 0 to 100. If the RSI is above 70, the stock or sector might be overpriced and could see a drop. If it is below 30, the stock or sector might be underpriced and could rise. RSI is usually calculated over 14 days.
Here is the list of sectors that are in the Oversold Zone on RSI :
NIFTY AUTO
The Nifty Auto Index is a sectoral stock market index designed to reflect the performance of the Indian automobile sector. Launched on January 1, 2004, with a base value of 1,000, the index comprises 15 prominent companies from various segments of the automotive industry.
Nifty Auto is currently trading at 19,815, and the RSI stands at 28.92.
NIFTY METAL
The Nifty Metal Index is a sectoral index on the National Stock Exchange of India (NSE) that tracks the performance of companies in the metals and mining sector. Designed to reflect the behavior and performance of the metals sector, the index comprises a maximum of 15 stocks listed on the NSE
Nifty Metal is currently trading at 7,846, and the RSI stands at 26.89.
NIFTY IT
The Nifty IT Index is a sectoral index of the National Stock Exchange of India (NSE) that tracks the performance of the Information Technology (IT) sector. Established with a base date of May 28, 2004, and a base value of 100, the index comprises 10 leading IT companies listed on the NSE.
Nifty IT is currently trading at 32,668, and the RSI stands at 21.73.
Written By Abhishek Das
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