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
PG Electroplast Ltd
PG Electroplast Ltd is an Indian company that primarily focuses on providing electronic manufacturing services. It is involved in producing products like printed circuit boards, LED lights, and other electronic components, and the company caters to industries like consumer electronics, lighting, and automotive.
With a market capitalization of Rs. 16,691.95 crores on Friday, the stock closed at Rs. 589.05, with an RSI of 20.65, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Sonata Software Ltd
Sonata Software Ltd is a global IT services and solutions provider headquartered in India. The company specializes in offering technology solutions such as software development, IT consulting, and digital transformation services. It operates across multiple sectors, including retail, manufacturing, and travel.
With a market capitalization of Rs. 9,614.36 crores on Friday, the stock closed at Rs. 342.85, with an RSI of 21.25, indicating that it is in the oversold zone, offering the potential for an upside bounce.
PNB Housing Finance Ltd
PNB Housing Finance Ltd is a leading housing finance company in India, offering home loans, mortgage loans, and other financial products. It is a subsidiary of Punjab National Bank, one of the country’s oldest and most prominent public sector banks. PNB Housing Finance serves individual customers and developers, providing solutions for home ownership, construction, and renovation.
With a market capitalization of Rs. 20,054.83 crores on Friday, the stock closed at Rs. 770.00, with an RSI of 15.68, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Indus Towers Limited
Indus Towers Limited is one of the largest telecom infrastructure companies in India. It operates a network of telecom towers, providing shared infrastructure to mobile operators, which helps in enhancing their coverage and network quality. Indus Towers plays a critical role in India’s telecommunications ecosystem, supporting operators with tower leasing, installation, and maintenance services.
With a market capitalization of Rs. 87,652.96 crores on Friday, the stock closed at Rs. 332.25, with an RSI of 19.92, indicating that it is in the oversold zone, offering the potential for an upside bounce.
JSW Holdings Limited
JSW Holdings Limited is an investment and holding company, part of the JSW Group, one of India’s leading business conglomerates. It primarily invests in and holds shares of various companies, with a particular focus on sectors like steel, energy, cement, and infrastructure. It aims to enhance shareholder value through strategic investments and the management of its diverse portfolio.
With a market capitalization of Rs. 20,532.09 crores on Friday, the stock closed at Rs. 18,498.00, with an RSI of 24.37, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
