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 signalling that it is undervalued and could experience a price rebound.
The stocks to watch out for are listed below
Transformers & Rectifiers India Ltd
Transformers & Rectifiers (India) Ltd. is a leading Indian manufacturer of transformers and reactors, with products including power, distribution, furnace, and rectifier transformers. The company serves the power generation, transmission, distribution, and industrial sectors, and has a significant market share in India for power and furnace transformers.
With a market capitalization of Rs. 8,489 crores on Tuesday, the stock closed at Rs. 282.80, with an RSI of 6.42, indicating that it is in the oversold zone, offering the potential for an upside bounce.
SKF India Ltd
SKF India Ltd. is a leading provider of engineered bearing, sealing, and lubrication solutions, serving the automotive and industrial sectors since 1923. It is the Indian subsidiary of the global company AB SKF, which provides a range of products and services, including bearings, seals, mechatronics, and lubrication systems.
With a market capitalization of Rs. 10,159.50 crores on Tuesday, the stock closed at Rs. 2055.00, with an RSI of 27.90, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Cohance Lifesciences Ltd
Cohance Lifesciences Ltd., formerly Suven Pharmaceuticals Ltd., is a global Contract Development and Manufacturing Organization (CDMO) that provides services to the life sciences and fine chemical industries. The company offers a range of services from custom synthesis and process R&D to the manufacturing of intermediates, APIs, and formulations.
With a market capitalization of Rs. 26,435.39 crores on Tuesday, the stock closed at Rs. 691.00, with an RSI of 19.97, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Gillette India Ltd
Gillette India Ltd is a fast-moving consumer goods company in India that manufactures and sells products in the grooming and oral care sectors. It is a subsidiary of the global company Procter & Gamble (P&G) and its products include brands like Gillette, Oral-B, and King C. Gillette.
With a market capitalization of Rs. 27,006.63 crores on Tuesday, the stock closed at Rs. 8288.00, with an RSI of 16.46, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Godrej Agrovet Ltd
Godrej Agrovet Ltd. is a diversified Indian agribusiness company focused on improving farm productivity through innovative products and services in animal feed, crop protection, oil palm, and poultry and processed foods. It is a subsidiary of Godrej Industries Ltd. and operates under the larger Godrej Group, with a mission to sustainably increase crop and livestock yields.
With a market capitalization of Rs. 11,006 crores on Tuesday, the stock closed at Rs. 572, with an RSI of 17.45 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
