The Indian markets rebounded midweek, closing with a 2.03% gain as global markets strengthened. We will likely see the market rising higher and expanding in the forthcoming trading sessions
Oversold stocks can provide investment opportunities for savvy investors, and the Relative Strength Index (RSI) is a popular indicator for identifying them. ETMarkets has listed eight stocks with an RSI below 30 and a market cap over Rs 100 crore, including Indian Energy Exchange and D P Abhushan. It s important to conduct thorough research and analysis before making investment decisions, taking company fundamentals, industry outlook, market conditions, and personal risk tolerance and goals into account.
ETMarkets screener has identified seven oversold stocks with their Relative Strength Index (RSI) below 30, providing investors with potential buying opportunities. Ratnabhumi Developers, Indian Energy Exchange, Bombay Metrics Supply Chain, Sintex Industries, D P Abhushan, GI Engineering Solutions, and Rachana Infrastructure are the selected companies. Despite slight market fluctuations, the companies have shown promising returns in the short and long-term, presenting attractive investment prospects. However, investors must conduct further research and closely monitor the stocks performance to ensure a successful investment.
Naysaa Securities (up 865 per cent), Captain Pipes (up 668 per cent), RMC Switchgears (up 575 per cent) and Empyrean Cashews (up 548 per cent) stood among other major gainers on SME exchanges in the ongoing financial year.