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
Waaree Energies Ltd
Waaree Energies Ltd. is India’s largest solar PV module manufacturer, part of the Waaree Group, providing solar solutions, EPC services, rooftop, and water pumps, with huge manufacturing capacity in India and a global footprint in numerous countries, focusing on high-quality, cost-effective, sustainable energy.
With a market capitalization of Rs. 83,685 crores on Tuesday, the stock closed at Rs. 2,909, with an RSI of 28.07, indicating that it is in the oversold zone, offering the potential for an upside bounce.
BEML Ltd
BEML Ltd (formerly Bharat Earth Movers Limited) is a major Indian Public Sector Undertaking under the Ministry of Defence, which designs, manufactures, and supplies heavy equipment and vehicles for core sectors like Defence & Aerospace, Mining & Construction, and Rail & Metro, playing a key role in India’s infrastructure and defense self-reliance through indigenization and innovation.
With a market capitalization of Rs. 14,016 crores on Tuesday, the stock closed at Rs. 1,684, with an RSI of 26.40, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Tata Chemicals Ltd
Tata Chemicals Ltd (TCL) is a global, science-led company within the Tata Group, focused on sustainable chemistry solutions, producing both Basic Chemistry (like Soda Ash, Sodium Bicarbonate, Salt) and Specialty Products (Agro-sciences, Nutritional Sciences, Material Sciences), with operations across India, North America, Europe, and Africa, serving industries from glass to FMCG and agriculture.
With a market capitalization of Rs. 19,155 crores on Tuesday, the stock closed at Rs. 752, with an RSI of 17.05, indicating that it is in the oversold zone, offering the potential for an upside bounce.
IREDA Ltd
Indian Renewable Energy Development Agency (IREDA) Ltd. is a public sector, green financing NBFC under India’s Ministry of New & Renewable Energy (MNRE), established in 1987 to provide financial support for renewable energy (RE) and energy efficiency projects, It offers diverse financial products, from project concept to completion, supporting solar, wind, hydro, biomass, and other green technologies.
With a market capitalization of Rs. 37,770 crores on Tuesday, the stock closed at Rs. 134, with an RSI of 31.62, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Lodha Developers Ltd
Lodha Developers Ltd. (now Macrotech Developers Ltd.) is one of India’s largest real estate developers, known for large-scale residential and commercial projects, particularly in Mumbai (MMR), Pune, Bengaluru, and London, focusing on affordable to luxury segments, including smart cities like Palava, with a recent push into logistics and industrial parks.
With a market capitalization of Rs. 1,07,432 crores on Tuesday, the stock closed at Rs. 1,076, with an RSI of 26.16, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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