Stocks trading below an RSI of 30 are generally considered to be in the oversold territory, indicating potential undervaluation or short-term weakness. For Nifty 500 stocks, this can highlight companies that may be temporarily under pressure but could offer buying opportunities for investors looking for value or anticipating a rebound. Monitoring these stocks allows traders and long-term investors to identify potential entry points in the broader market.
What is RSI and why is it important?
The Relative Strength Index (RSI) is a popular technical indicator used to measure the speed and change of price movements of a stock or other asset. It ranges from 0 to 100 and helps identify whether a stock is overbought or oversold.
Typically, an RSI above 70 indicates that a stock may be overbought and due for a correction, while an RSI below 30 suggests it may be oversold and could see a potential rebound.
RSI is important because it helps investors and traders make informed decisions about entry and exit points. By analyzing momentum, RSI can highlight trends, potential reversals, and market sentiment, allowing for better risk management and more strategic investment choices.
Below are list of stock trading below RSI level 30
1. Balrampur Chini Mills Ltd
Balrampur Chini Mills Limited, headquartered in Kolkata, manufactures and sells sugar in India and operates through Sugar, Distillery, Polylactic Acid, and other segments. It produces molasses, industrial alcohol, ethanol, extra neutral alcohol, CO₂, dry ice, bagasse, and agricultural fertilizers, and also generates electricity with a saleable capacity of 175.7 MW. The company exports sugar products and was incorporated in 1975.
With market capitalization of Rs. 9,444.92 cr, the shares of Balrampur Chini Mills Ltd are closed at Rs. 467.70, down by 5.75 percent from its previous close of Rs. 496.25 per share.
With a current RSI of 22.35, the stock is technically in oversold territory and may attract investor attention for a possible rebound if buying momentum strengthens.
2. Crompton Greaves Consumer Electricals Limited
Crompton Greaves Consumer Electricals Limited, based in Mumbai and incorporated in 2015, manufactures and markets consumer electrical products in India through two segments: Electrical Consumer Durables and Lighting Products.
Its offerings include fans, pumps, home appliances (air coolers, heaters, water heaters, irons, kitchen appliances), lighting products (LEDs, bulbs, ceiling and outdoor lights), and kitchen solutions (chimneys, hobs, dishwashers, microwaves, ovens, and food prep appliances).
With market capitalization of Rs. 19,283.39 cr, the shares of Crompton Greaves Consumer Electricals Limited are closed at Rs. 299.50, down by 1.90 percent from its previous close of Rs. 305.35 per share.
With a current RSI of 27.06, the stock is technically in oversold territory and may attract investor attention for a possible rebound if buying momentum strengthens.
3. Rainbow Children’s Medicare Limited
Rainbow Children’s Medicare Limited, based in Hyderabad and incorporated in 1998, operates a multi-specialty hospital chain in India focused on pediatric, obstetrics, and gynecology care.
It provides pediatric services under Rainbow Children’s Hospital, including intensive care, multi-specialty, and quaternary care like organ transplantation, and women’s care under the Birthright brand, covering obstetric, fetal, fertility, and gynecology treatments. The company also runs a private pediatric DNB training program for postgraduate and fellowship education.
With market capitalization of Rs. 14,118.75 cr, the shares of Rainbow Children’s Medicare Limited are closed at Rs. 1,390.20, down by 1.67 percent from its previous close of Rs. 1,413.80 per share.
The stock’s current RSI of 25.05 indicates it is oversold and may catch investor’s attention for a possible rebound if buying momentum rises.
4. Praj Industries Limited
Praj Industries Limited, headquartered in Pune and incorporated in 1985, operates in bio-based technologies and engineering in India and internationally. It provides solutions for the ethanol industry, biopharma, brewing and beverages, hydrocarbons, petrochemicals, and chemical plants, including customized plants, equipment, and modular process packages. The company also offers wastewater treatment solutions, resource recovery, and related operation and maintenance services.
With market capitalization of Rs. 6,782.70 cr, the shares of Praj Industries Limited are closed at Rs. 369, down by 2.98 percent from its previous close of Rs. 380.35 per share.
With a current RSI of 25.43, the stock is considered oversold and may attract investor interest for a potential rebound if buying activity increases.
Written by Akshay Sanghavi
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