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
Blur Star Limited
Blue Star Limited is a leading Indian multinational specializing in air conditioning, commercial refrigeration, and MEP (Mechanical, Electrical, and Plumbing) services. Established in 1943, the company operates through three segments: Electro-Mechanical Projects and Commercial Air Conditioning Systems, Unitary Products, and Professional Electronics and Industrial Systems.
With a market capitalization of Rs. 32,451.15 crores on Tuesday, the stock closed at Rs. 1,581.10, with an RSI of 25.72, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Ramkrishna Forgings Ltd
Ramkrishna Forgings Limited is one of India’s largest integrated forging companies. The company manufactures forged, machined, and fabricated components for various sectors, including automotive, railways, defense, oil & gas, power, and construction. RKFL exports its products to over 22 countries and operates seven manufacturing plants across India.
With a market capitalization of Rs. 10,509.73 crores on Tuesday, the stock closed at Rs. 580.50, with an RSI of 28.98, indicating that it is in the oversold zone, offering the potential for an upside bounce.
SEAMEC Limited
SEAMEC Limited is an Indian offshore services company specializing in providing marine and subsea solutions to the oil and gas industry. The company offers services such as offshore construction, diving support, inspection, maintenance, and repair (IMR) operations, and caters to both domestic and international clients in the energy sector.
With a market capitalization of Rs. 2,092.60 crores on Tuesday, the stock closed at Rs. 825, with an RSI of 24.45, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Written by Sridhar J
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