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
Indian Energy Exchange Ltd
IEX is India’s premier energy trading platform, facilitating the buying and selling of electricity, renewable energy certificates, and other energy products. It operates a transparent and automated exchange system, playing a key role in promoting efficiency and competitiveness in the Indian power market.
With a market capitalization of Rs. 13,039.69 crores on Friday, the stock closed at Rs. 145.10, with an RSI of 25.35, indicating that it is in the oversold zone, offering the potential for an upside bounce.
United Spirits Ltd
United Spirits, a subsidiary of Diageo, is one of India’s largest alcoholic beverage companies. It owns a wide portfolio of iconic liquor brands such as McDowell’s No.1, Royal Challenge, and Antiquity, and holds a strong market presence in both domestic and international spirits segments.
With a market capitalization of Rs. 95,239.32 crores on Friday, the stock closed at Rs. 1309.40, with an RSI of 25.92, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Trent Limited
Trent Limited, a part of the Tata Group, operates retail chains like Westside, Zudio, and Star Bazaar. It is known for its strong presence in fashion and lifestyle retailing across India, offering contemporary and affordable apparel, accessories, and home products to urban consumers.
With a market capitalization of Rs. 1,79,206.56 crores on Friday, the stock closed at Rs. 5041.15, with an RSI of 28.84, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Coforge Limited
Coforge is a global IT services and solutions company, formerly known as NIIT Technologies. It specializes in digital services across sectors like BFSI, travel, healthcare, and insurance, with a focus on cloud, automation, and AI-driven transformation for enterprise clients.
With a market capitalization of Rs. 56,512.87 crores on Friday, the stock closed at Rs. 1689.35, with an RSI of 28.27, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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