The Relative Strength Index (RSI) is a widely used technical indicator that measures the speed and change of price movements. An RSI below 30 typically signals that a stock is oversold, suggesting potential buying opportunities for traders anticipating a rebound.
Currently, stocks like Praj Industries Ltd, Bajaj Hindustan Sugar Ltd, and NIBE Ltd are trading with an RSI below 30, indicating they are in the oversold zone. This could attract short-term traders and investors looking for potential entry points, as these stocks may experience a price correction or reversal in the near term. Monitoring these stocks for trend confirmation and market catalysts can help in making informed investment decisions.
Praj Industries Ltd
Praj Industries Ltd is a leading Indian company specializing in bioenergy, fermentation, and water treatment solutions. It provides technologies and equipment for biofuels, industrial enzymes, and renewable energy, catering to both domestic and international markets while focusing on sustainable and environmentally friendly solutions.
With market capitalization of Rs. 7,342 cr, the shares of Praj Industries Ltd are currently trading at Rs. 399.45 per share, down by nearly 3% in today’s market from its previous close of Rs. 409.10 per share.
An RSI (Relative Strength Index) of 23.01 indicates that the stock is in the oversold zone, as values below 30 typically signal strong selling pressure. This suggests that the stock has been experiencing a significant downtrend and may be poised for a potential rebound or reversal if buying interest picks up.
Bajaj Hindustan Sugar Ltd
Bajaj Hindustan Sugar Ltd is one of India’s largest sugar manufacturing companies, engaged in the production of sugar, ethanol, and renewable energy. The company operates multiple sugar mills across Uttar Pradesh and contributes significantly to the sugar and biofuel sectors, supporting both domestic consumption and export markets
With market capitalization of Rs. 2,620 cr, the shares of Bajaj Hindustan Sugar Ltd are currently trading at Rs. 20.65, down by 2% from its previous close of Rs. 21.09 per share.
With an RSI of 23.60, the stock is considered oversold, meaning it has likely fallen faster than its fundamentals justify. This can present a buying opportunity for long-term investors, as the stock might recover in value once the market corrects the temporary selling pressure.
NIBE Ltd
NIBE Ltd is an Indian company primarily engaged in the manufacturing and distribution of specialized industrial products, including engineering components and solutions for sectors like automotive, energy, and infrastructure. The company focuses on innovation and quality to serve both domestic and international markets. With market capitalization of Rs. 1,743 cr, the shares of NIBE Ltd are currently trading at Rs. 1,198.20 per share, from its previous close of Rs. 1,194.20.
The stock’s RSI at 25.73 shows it is oversold and may be undervalued in the short term. This could attract traders looking for a bounce, but it also signals that the stock has faced recent heavy selling.
Written by Manideep Appana
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