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
Tata Consultancy Services (TCS) is a global leader in IT services, consulting, and business solutions. It offers a wide range of services, including digital transformation, cloud solutions, and enterprise IT. Headquartered in Mumbai, India, TCS serves clients across multiple industries worldwide and is one of the largest IT services companies in the world.
With a market capitalization of Rs. 11,94,692.50 crores on Friday, the stock closed at Rs. 3302.00, with an RSI of 25.29, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Infosys is a multinational corporation that provides IT consulting and services, including software development, cloud computing, and digital solutions. Headquartered in Bengaluru, India, Infosys is recognized for its innovative approach to technology and has a strong global presence, serving clients in various sectors, such as finance, healthcare, and manufacturing.
With a market capitalization of Rs. 6,03,178.45 crores on Friday, the stock closed at Rs. 1452.30, with an RSI of 25.69, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Dabur is one of India’s leading consumer goods companies, with a focus on health, wellness, and personal care products. Known for its Ayurvedic and natural formulations, Dabur offers a wide range of products, including hair care, skincare, and health supplements.
With a market capitalization of Rs. 81,881.10 crores on Friday, the stock closed at Rs. 462.00, with an RSI of 26.12, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Tech Mahindra is a global IT services and consulting company that specializes in digital transformation, 5G, cloud computing, and AI-driven solutions. A part of the Mahindra Group, it serves clients across various industries, such as telecommunications, healthcare, and finance.
With a market capitalization of Rs. 1,29,491.50 crores on Friday, the stock closed at Rs. 1322.70, with an RSI of 27.36, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Wipro is a global IT, consulting, and business process services company based in Bengaluru, India. It provides a broad spectrum of services, including cloud computing, cybersecurity, and AI. Wipro has a significant presence in multiple markets worldwide, helping businesses with digital transformation and innovation.
With a market capitalization of Rs. 2,57,876.35 crores on Friday, the stock closed at Rs. 246.25, with an RSI of 28.15, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
Discalimer
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