Synopsis: Avenue Supermarts, Waaree Energies, AstraZeneca Pharma India, and AWL Agri Business are among Nifty 500 stocks trading below an RSI of 30, indicating oversold conditions and potential short-term rebound opportunities.
The Relative Strength Index (RSI) is a widely used technical indicator that helps traders evaluate a stock’s price momentum. It is calculated on a scale of 0 to 100 and is used to determine whether a stock is trading in overbought or oversold territory, aiding in the identification of short-term trends and potential reversals.
Generally, an RSI above 70 signals that a stock may be overbought and could see a near-term pullback, while an RSI below 30 indicates oversold conditions and the possibility of a rebound. These levels are closely tracked by traders to identify short-term trading opportunities.
Here are a few stocks that are trading below the Relative Strength Index (RSI) Level 30
Avenue Supermarts Limited is engaged in operating DMart supermarkets offering groceries, staples, personal care, household items, apparel, kitchenware, and general merchandise at competitive prices. It focuses on efficient supply chain, low-cost model, and cluster-based expansion across urban India.
With a market capitalization of Rs. 2,38,487.16 crores on Tuesday, the stock closed at Rs. 3,664.90, with an RSI of 30.24, indicating that it is in the oversold zone, offering the potential for an upside bounce.
Waaree Energies Limited engages in manufacturing solar photovoltaic modules, cells, mounting structures, and provides EPC services for solar projects. It supplies solar solutions for residential, commercial, and utility-scale power plants and exports globally from multiple facilities in India.
With a market capitalization of Rs. 75,770.37 crores on Tuesday, the stock closed at Rs. 2,634.20, with an RSI of 24.11, indicating that it is in the oversold zone, offering the potential for an upside bounce.
AstraZeneca Pharma India Limited engages in manufacturing and marketing pharmaceutical formulations for oncology, respiratory, cardiovascular, gastroenterology, and rare diseases. It leverages global R&D, provides innovative branded generics and specialty medicines in India.
With a market capitalization of Rs. 20,946.63 crores on Tuesday, the stock closed at Rs. 8,378.65, with an RSI of 29.24, indicating that it is in the oversold zone, offering the potential for an upside bounce.
AWL Agri Business Limited is engaged in trading, processing agricultural commodities like rice, spices, pulses, and edible oils. It focuses on procurement, storage, quality processing, export-import, and supply chain solutions for domestic and international agri-markets.
With a market capitalization of Rs. 29,983.59 crores on Tuesday, the stock closed at Rs. 230.70, with an RSI of 29.52, indicating that it is in the oversold zone, offering the potential for an upside bounce.
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.
