Synopsis: Oil and Natural Gas Corporation, Reliance Industries, NTPC, Muthoot Finance, and other stocks that are currently in the oversold zone with RSI below 30, signaling potential upside opportunities.
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:
Oil and Natural Gas Corporation Ltd
Oil and Natural Gas Corporation (ONGC) is India’s largest crude oil and natural gas exploration and production company. Established in 1956, it plays a crucial role in meeting the country’s energy needs. ONGC operates both onshore and offshore oilfields and contributes significantly to India’s domestic hydrocarbon production and energy security.
With a market capitalization of Rs. 3,16,897.23 crores on the day’s trade, the stock closed at Rs. 251.90, with an RSI of 25.64, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Reliance Industries Limited
Reliance Industries Limited (RIL) is one of India’s largest private-sector conglomerates with businesses spanning petrochemicals, refining, oil and gas, telecommunications, retail, and renewable energy. Founded by Dhirubhai Ambani, the company has transformed into a diversified global enterprise and remains a key driver of India’s economic growth.
With a market capitalization of Rs. 17,04,490.91 crores on the day’s trade, the stock closed at Rs. 1259.55, with an RSI of 29.15, indicating that it is in the oversold zone, offering the potential for an upside bounce.
NTPC Limited
NTPC Limited is India’s largest power generation company and a leading public-sector enterprise. Founded in 1975, it primarily generates electricity through thermal, hydro, solar, and wind power projects. The company plays a vital role in ensuring a reliable energy supply across India while expanding its focus on renewable and sustainable energy sources.
With a market capitalization of Rs. 3,41,225.68 crores on the day’s trade, the stock closed at Rs. 351.90, with an RSI of 25.21, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Muthoot Finance Limited
Muthoot Finance is India’s leading gold loan non-banking financial company (NBFC). Established in 1939, it provides secured loans against gold jewelry along with other financial services such as insurance, money transfer, and wealth management. The company serves millions of customers through its extensive branch network across the country.
With a market capitalization of Rs. 1,16,985.91 crores on the day’s trade, the stock closed at Rs. 2913.95, with an RSI of 26.65, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Jindal Stainless Limited
Jindal Stainless Limited is India’s largest stainless steel manufacturer and among the leading producers globally. The company supplies stainless steel products for industries such as construction, automotive, railways, consumer goods, and infrastructure. With advanced manufacturing facilities and a strong export presence, it plays an important role in India’s industrial development.
With a market capitalization of Rs. 54,576.58 crores on the day’s trade, the stock closed at Rs. 662.00, with an RSI of 28.11, indicating that it is in the oversold zone, offering the potential for an upside bounce.
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