The Relative Strength Index (RSI) is a basic tool that measures if a stock is trading too high or too low, with values ranging from 0 to 100. An RSI above 70 signals potential overbought conditions, suggesting a price correction may follow, while a reading below 30 indicates oversold conditions, hinting at a possible recovery. Traders rely on RSI to identify better entry or exit points based on recent price movements.
Here are a few small-cap stocks that are trading below the Relative Strength Index (RSI) Level 30
Praj Industries Limited
Praj Industries Limited was established in 1985 and is engaged in providing sustainable solutions in bioenergy, high-purity water, critical process equipment, breweries, and wastewater treatment. The company is engaged with clients globally, fostering innovation and environmental stewardship in over 100 countries.
With a market capitalization of Rs. 7,573.10 crores on Thursday, the stock closed at Rs. 412, with an RSI of 26.31, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Marksans Pharma Limited
Marksans Pharma Limited was established in 2001 and is engaged in manufacturing and marketing generic and OTC pharmaceutical products. The company is engaged globally with regulatory approvals from the US FDA, the UK MHRA, and the Australian TGA, serving over 50 countries with a robust R&D and manufacturing setup.
With a market capitalization of Rs. 8,224.47 crores on Thursday, the stock closed at Rs. 181.49, with an RSI of 21.53, indicating that it is in the oversold zone, offering the potential for an upside bounce.
NIBE Limited
NIBE Limited was established in 2005 and is engaged in manufacturing critical defence components and advanced weapon systems. The company is engaged with India’s defence ecosystem, delivering integrated defence solutions to strengthen strategic self-reliance under the Atmanirbhar Bharat initiative.
With a market capitalization of Rs. 1,723.45 crores on Thursday, the stock closed at Rs. 1,205.50, with an RSI of 24.44, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Go Fashion (India) Limited
Go Fashion (India) Limited was established in 2010 and is engaged in designing, sourcing, marketing, and retailing women’s bottom wear under the brand “Go Colors.” The company is engaged with over 400 stores across 100 cities, expanding its presence internationally.
With a market capitalization of Rs. 3,791.43 crores on Thursday, the stock closed at Rs. 702, with an RSI of 25.96, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Galaxy Surfactants Limited
Galaxy Surfactants Limited was established in 1980 and is engaged in manufacturing specialty chemicals and surfactants for the personal care and home care industries. The company is engaged globally with over 1,400 clients and manufacturing facilities in India, Egypt, and the USA.
With a market capitalization of Rs. 7,934.77 crores on Thursday, the stock closed at Rs. 2,238, with an RSI of 28.31, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written By – Nikhil Naik
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