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:
1. ITC Limited
ITC is a diversified conglomerate with business interests in FMCG, hotels, paperboards, packaging, and agri-business. It is particularly known for its leading brands in packaged foods, personal care, and cigarettes.
With a market capitalization of Rs. 5,03,940.11 crores on Monday, the stock is currently trading at Rs. 402.75, with an RSI of 29.34, indicating that it is in the oversold zone, offering the potential for an upside bounce.
2. Bosch Limited
Bosch is a global engineering and technology company specializing in automotive components, power tools, and industrial products and it is renowned for its innovations in automotive technology, especially in the areas of mobility and electrification.
With a market capitalization of Rs. 79,188.06 crores on Monday, the stock is currently trading at Rs. 26,849.20, with an RSI of 26.52, indicating that it is in the oversold zone, offering the potential for an upside bounce.
3. TCS Limited
Tata Consultancy Services (TCS) is a multinational IT services and consulting firm, offering software development, business solutions, and technology services and named for its leadership in digital transformation and IT outsourcing solutions.
With a market capitalization of Rs. 13,39,054.19 crores on Monday, the stock is currently trading at Rs. 3701.00, with an RSI of 23.08, indicating that it is in the oversold zone, offering the potential for an upside bounce.
4. Adani Green Energy Limited
Adani Green Energy focuses on renewable energy generation, particularly solar and wind power and It is recognized for its commitment to clean energy projects and its role in transforming India’s renewable energy landscape.
With a market capitalization of Rs. 1,32,448.88 crores on Monday, the stock is currently trading at Rs. 836.15, with an RSI of 26.71, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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