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 Elxsi Limited
Tata Elxsi is a leading global design and technology services company, providing solutions across industries such as automotive, healthcare, media, and telecommunications. They specialize in product engineering, digital transformation, and design innovation to help clients build smarter and more sustainable businesses.
With a market capitalization of Rs. 32,261.62 crores on Monday, the stock closed at Rs. 5,178, with an RSI of 24.03, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Tata Technologies Limited
Tata Technologies is a global leader in providing engineering and product development services. It offers solutions in areas such as design, engineering, manufacturing, and IT services for industries like automotive, aerospace, and industrial machinery, helping companies innovate and enhance their operations.
With a market capitalization of Rs. 25,506.41 crores on Monday, the stock closed at Rs. 628.45, with an RSI of 23.72, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Mphasis Limited
Mphasis is a global IT solutions provider specializing in cloud and cognitive services, including AI and machine learning. The company delivers IT solutions across industries like banking, insurance, and healthcare, with a focus on transforming customer experience and accelerating digital adoption.
With a market capitalization of Rs. 41,889.93 crores on Monday, the stock closed at Rs. 2,205, with an RSI of 27.48, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Indian Renewable Energy Development Agency Limited
Indian Renewable Energy Development Agency (IREDA) is a government-owned financial institution focused on promoting and financing renewable energy projects in India. It supports the development of wind, solar, hydro, and other sustainable energy sources to foster a cleaner and greener environment.
With a market capitalization of Rs. 36,903.01 crores on Monday, the stock closed at Rs. 138.16, with an RSI of 26.55, indicating that it is in the oversold zone, offering the potential for an upside bounce.
KNR Construction Limited
KNR Constructions is a leading infrastructure development company in India, specializing in construction and engineering projects. They are involved in sectors such as roads, highways, irrigation, and urban infrastructure and focus on delivering high-quality projects with a strong commitment to timely execution and safety standards.
With a market capitalization of Rs. 5,797.65 crores on Monday, the stock closed at Rs. 206.22, with an RSI of 20.52, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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