Indigo and 4 other Nifty 500 stocks trading at the RSI less than 30; Do you own any?

Synopsis: InterGlobe Aviation, ITC Hotels, Whirlpool India, Reliance Infrastructure, and Piramal Pharma show oversold momentum, trading below RSI 30, signalling oversold conditions and potential reversal opportunities.

The Relative Strength Index (RSI) is a widely used technical indicator that helps determine if a stock is overbought or oversold. It ranges from 0 to 100 and reflects recent price momentum, allowing traders to spot potential trend reversals or corrections.

When the RSI moves above 70, it signals that a stock might be overbought and due for a price correction. If it drops below 30, the stock may be oversold and could bounce back. Traders use these levels to identify potential short-term buying or selling opportunities.

Interglobe Aviation Limited

Interglobe Aviation Limited, operating as IndiGo, is engaged in low-cost airline services. The company provides affordable domestic and international passenger flights, cargo transport, and ancillary services like baggage fees across more than 100 destinations with a fleet of over 400 aircraft.

With a market capitalization of Rs. 1,87,915.89 crores on Friday, the stock closed at Rs. 4,860.85, with an RSI of 23.86, indicating that it is in the oversold zone, offering the potential for an upside bounce.

ITC Hotels Limited

ITC Hotels Limited is engaged in hospitality and hotel management. The company operates luxury hotels, resorts, and restaurants under brands like ITC Hotels, offering premium accommodations, dining, and event services across major Indian cities.

With a market capitalization of Rs. 40,342.89 crores on Friday, the stock closed at Rs. 193.70, with an RSI of 26.52, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Whirlpool of India Limited

Whirlpool of India Limited is engaged in home appliances manufacturing. The company makes and sells refrigerators, washing machines, air conditioners, and kitchen appliances, focusing on energy-efficient products for Indian households.

With a market capitalization of Rs. 11,742.62 crores on Friday, the stock closed at Rs. 925.55, with an RSI of 21.81, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Reliance Infrastructure Limited

Reliance Infrastructure Limited is engaged in power and infrastructure development. The company builds and operates power plants, roads, metro rails, and defence projects, providing engineering, construction, and urban infrastructure solutions.​

With a market capitalization of Rs. 5,561.47 crores on Friday, the stock closed at Rs. 136.10, with an RSI of 29.09, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Piramal Pharma Limited

Piramal Pharma Limited is engaged in pharmaceutical research and manufacturing. The company develops and produces generic drugs, APIs, and speciality therapies for global markets, emphasizing contract development and innovative healthcare solutions.

With a market capitalization of Rs. 23,195.38 crores on Friday, the stock closed at Rs. 174.50, with an RSI of 30.40, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Written By – Nikhil Naik

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