Relative Strength Index (RSI) is a widely applied momentum indicator that can assist traders in determining the strength and speed of stock price movements. It ranges from 0 to 100 and is frequently used by traders to determine whether stocks are overbought or oversold.
In most cases, when the RSI value is above 70, it shows that the price increase of stocks is relatively high. Thus, there is a likelihood of traders taking profits on a stock's price increase. If the RSI value is less than 30, the stock is believed to be oversold and can possibly recover. Here are a few Nifty 500 stocks that are trading below the Relative Strength Index (RSI) level of 30
Thermax Limited
Thermax Limited is an Indian engineering company that provides energy and environment solutions to industries. Its business portfolio includes boilers, heating systems, cooling solutions, water and wastewater treatment, air pollution control equipment, and chemicals. The company serves industries such as power, manufacturing, pharmaceuticals, food processing, chemicals, and textiles.
With a market capitalization of Rs. 40,334.41 crores on Monday, the stock closed at Rs. 3,385, with an RSI of 25.54 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Bajaj Finserv Limited
Bajaj Finserv Limited is a diversified financial services company and part of the Bajaj Group. The company operates across lending, insurance, investments, and other financial services through its subsidiaries and associated businesses. Its lending operations provide financing to individual and business customers, while its insurance businesses offer life and general insurance products.
With a market capitalization of Rs. 2,80,360.74 crores on Monday, the stock closed at Rs. 1,750, with an RSI of 26.53 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Suzlon Energy Limited
Suzlon Energy Limited is an Indian renewable-energy company focused primarily on wind power. The company provides wind turbine generators and offers services covering project development, manufacturing, installation, operation and maintenance. Suzlon serves utility companies, independent power producers, commercial and industrial customers, and other renewable-energy developers.
With a market capitalization of Rs. 54,542.49 crores on Monday, the stock closed at Rs. 39.68, with an RSI of 21.17 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Cholamandalam Financial Holdings Limited
Cholamandalam Financial Holdings Limited is a financial services company belonging to the Murugappa Group. The company has interests across financial services and operates through businesses focused on vehicle finance, housing finance and other lending activities. Its businesses serve individual customers, small businesses, and commercial customers across different segments of the economy.
With a market capitalization of Rs. 26,218.43 crores on Monday, the stock closed at Rs. 1,396.25, with an RSI of 25.77 indicating that it is in the oversold zone, offering the potential for an upside bounce.
India Cements Limited
India Cements Limited is one of India's established cement manufacturers, with a long operating history in the country's construction materials industry. The company manufactures and markets cement and related products used in residential, commercial, and infrastructure construction. Its operations are concentrated primarily in southern India, where it has manufacturing facilities and an established distribution network.
With a market capitalization of Rs. 9,681.19 crores on Monday, the stock closed at Rs. 312.40, with an RSI of 22.67 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Aditya Birla Lifestyle Brands Limited
Aditya Birla Lifestyle Brands Limited is a fashion and lifestyle company operating a portfolio of apparel and related brands in India. The company focuses on branded clothing and lifestyle products across categories such as casual wear, formal wear and premium fashion. Its portfolio includes well-known international and domestic brands serving different consumer segments.
With a market capitalization of Rs. 9,405.34 crores on Monday, the stock closed at Rs. 77.06, with an RSI of 21.28 indicating that it is in the oversold zone, offering the potential for an upside bounce.
Ircon International Limited
Ircon International Limited is an Indian engineering and construction company with a strong presence in infrastructure development. It undertakes projects across areas such as railways, highways, bridges, tunnels, railway electrification, and other transportation infrastructure. The company has executed projects in India and international markets and has experience in handling large and technically complex infrastructure assignments.
With a market capitalization of Rs. 9,715.53 crores on Monday, the stock closed at Rs. 103.30, with an RSI of 20.73 indicating that it is in the oversold zone, offering the potential for an upside bounce.
