The Relative Strength Index (RSI) is a technical indicator used in financial markets to measure the speed and change of price movements. It ranges from 0 to 100 and is typically used to assess whether a stock or asset is overbought or oversold.
An RSI value above 70 indicates that the asset might be overbought, suggesting it could be overvalued and might experience a price correction. Conversely, an RSI below 30 indicates that the asset might be oversold, potentially signaling that it is undervalued and could experience a price rebound.
The stocks to watch out for are listed below
1. BEL Limited
Bharat Electronics Limited (BEL) is a leading Indian government-owned aerospace and defence electronics company. It specializes in the design, development, and manufacture of advanced electronic products for the Indian Armed Forces, including radars, communication systems, electronic warfare equipment, and avionics.
With a market capitalization of Rs. 2,81,682.33 crores on Tuesday, the stock closed at Rs. 385.35, with an RSI of 85.05, indicating that it is in the overbought zone, offering the potential for a bearish Reversal.
2. Pfizer Ltd
Pfizer Ltd is the Indian subsidiary of the global pharmaceutical giant Pfizer Inc. The company focuses on manufacturing and marketing a wide range of prescription medicines and vaccines in India, covering therapeutic areas such as cardiology, neurology, oncology, and vaccines.
With a market capitalization of Rs. 24,729.39 crores on Tuesday, the stock closed at Rs. 5,405.60, with an RSI of 90.51, indicating that it is in the overbought zone, offering the potential for a bearish Reversal.
3. MRF Ltd
MRF Limited is India’s largest manufacturer of tires and rubber products, serving the automotive, aviation, and industrial sectors. Established in 1946, MRF is renowned for its high-quality tires, tubes, conveyor belts, and other rubber products, and it has a significant presence both in domestic and international markets.
With a market capitalization of Rs. 61,284.09 crores on Tuesday, the stock closed at Rs. 1,44,499.00, with an RSI of 71.23, indicating that it is in the overbought zone, offering the potential for a bearish Reversal.
4. GE Vernova T&D India Ltd
GE Vernova T&D India Ltd, formerly known as GE T&D India, is a leading player in the power transmission and distribution sector. The company provides a wide range of solutions, including transformers, switchgear, and grid automation products and services, supporting India’s energy infrastructure.
With a market capitalization of Rs. 56,702.79 crores on Tuesday, the stock closed at Rs. 2214.55, with an RSI of 78.70, indicating that it is in the overbought zone, offering the potential for a bearish Reversal.
5. Jubilant Pharmova Ltd
Jubilant Pharmova Limited is an integrated global pharmaceutical company engaged in radiopharma, allergy immunotherapy, contract development and manufacturing of sterile injectables, and proprietary novel drugs. The company operates through multiple business segments, including radiopharmaceuticals, allergy therapy, contract research and manufacturing, and drug discovery.
With a market capitalization of Rs. 18,074.43 crores on Tuesday, the stock closed at Rs. 1,134.75, with an RSI of 81.09, indicating that it is in the overbought zone, offering the potential for a bearish Reversal.
Written by Sridhar J
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