Oversold state! RSI drops below 30 for Adani Wilmar and 4 other stocks

, ETMarkets.com|

01 Sep 2023, 03:44 PM IST

1/7

What is RSI?

RSI or Relative Strength Index computes the ratio of the recent upward price movement of the security to the absolute price movement. The metric ranges from 0-100, and the period considered by StockEdge to measure the metric is 14 days. Typically, RSI is a momentum indicator used in the technical analysis of stocks and helps to determine the overvalued or undervalued state of the security.

iStock

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Significance of RSI crossing below 30

Typically a reading of 30 or below suggests an oversold or undervalued condition. This implies that the stock trades at a lower price than its true value, and hence traders keeping track of such an indication may expect a reversal or correction and may be drawn to buy the security. So, here are 5 NSE stocks that are oversold as per the RSI metric. Note: The data is from the previous trading day (August 31, 2023) (Source: StockEdge).

iStock

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Adani Wilmar

RSI as of August 31: 29.67 | Previous RSI: 35.07 | Last close: Rs 359.5

ETMarkets.com

4/7

Goyal Aluminiums

RSI as of August 31: 29.19 | Previous RSI: 30.22 | Last close: Rs 8.15

ETMarkets.com

5/7

HPCL

RSI as of August 31: 28.26 | Previous RSI: 35.46 | Last close: Rs 248.1

ETMarkets.com

6/7

TCNS Clothing

RSI as of August 31: 27.04 | Previous RSI: 42.58 | Last close: Rs 378.5

ETMarkets.com

7/7

Soma Textiles

RSI as of August 31: 25.9 | Previous RSI: 30.02 | Last close: Rs 20.15

ETMarkets.com

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Oversold state! RSI drops below 30 for Adani Wilmar and 4 other stocks

What is RSI?

Significance of RSI crossing below 30

Adani Wilmar

Goyal Aluminiums

HPCL

TCNS Clothing

Soma Textiles

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​Oversold state! RSI drops below 30 for Adani Wilmar and 4 other stocks​

What is RSI?

​​Significance of RSI crossing below 30

Adani Wilmar

​​Goyal Aluminiums

​​HPCL

​​TCNS Clothing

Soma Textiles

To post this comment you must

Fill in your details:

Share this Comment:

Oversold state! RSI drops below 30 for Adani Wilmar and 4 other stocks

Significance of RSI crossing below 30

Goyal Aluminiums

HPCL

TCNS Clothing