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
Godrej Consumer Products Ltd
Godrej Consumer Products Ltd is a leading player in the FMCG sector, with a diverse portfolio spanning personal care, home care, and packaged food products. The company is known for its iconic brands like Good Knight, Cinthol, and Godrej Hair Color. It focuses on innovation, sustainability, and consumer-centric solutions, solidifying its position as a key player in the global FMCG market.
With a market capitalization of Rs. 1,12,538.18 crores on Tuesday, the stock closed at Rs. 1100.00, with an RSI of 24.41, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Avenue Supermarts Ltd
Avenue Supermarts Ltd, the parent company of DMart, is one of India’s leading retail chains offering a wide range of products, including groceries, apparel, home essentials, and personal care items. Known for its cost-effective pricing strategy and efficient operations, DMart has become a household name, catering to the needs of budget-conscious consumers.
With a market capitalization of Rs. 2,73,294.87 crores on Tuesday, the stock closed at Rs. 4199.80, with an RSI of 27.43, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Havells India Ltd
Havells Limited is a renowned name in the electrical and home appliance industry, manufacturing a diverse range of products including electrical cables, lighting solutions, fans, and home appliances. The company has built a strong reputation for high-quality and innovative products. It continues to lead the Indian market while expanding its presence globally through strategic acquisitions.
With a market capitalization of Rs. 90,631.33 crores on Tuesday, the stock closed at Rs. 1445.00, with an RSI of 28.75, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Asian Paints Limited
Asian Paints Limited is India’s largest and one of the leading decorative paints companies in the world. With a wide range of products that cater to both residential and commercial spaces, Asian Paints has established itself as a market leader in the paints and coatings sector. The company is known for its innovation in color and design, along with a strong distribution network that extends across multiple countries.
With a market capitalization of Rs. 2,21,670.61 crores on Tuesday, the stock closed at Rs. 2311.00, with an RSI of 30, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Crompton Greaves Consumer Electricals Ltd
Crompton Greaves Consumer Electricals Ltd is a leading manufacturer of consumer electrical products, including fans, lighting solutions, and home appliances. The company is known for its energy-efficient and high-quality products, with popular brands like Crompton and Glen under its umbrella. It has a strong presence in the Indian market and is continuously expanding its portfolio to cater to the growing demand.
With a market capitalization of Rs. 18,094.01 crores on Tuesday, the stock closed at Rs. 281.00, with an RSI of 24.21, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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