Jupiter Wagons and 3 other Nifty 500 stocks trading at RSI less than 30

The Relative Strength Index (RSI) is a technical indicator used in financial markets to measure the speed and change of price movements. It ranges from 0 to 100 and is typically used to assess whether a stock or asset is overbought or oversold.

An RSI value above 70 indicates that the asset might be overbought, suggesting it could be overvalued and might experience a price correction. Conversely, an RSI below 30 indicates that the asset might be oversold, potentially signalling that it is undervalued and could experience a price rebound.

Jupiter Wagons Ltd

Jupiter Wagons Ltd. is an Indian company that manufactures railway wagons, components, and other transportation equipment. Formerly known as Commercial Engineers & Body Builders Company Limited, the company has diversified into manufacturing application-based load bodies for commercial vehicles, electric vehicles, and marine/refrigerated containers.

With a market capitalization of Rs. 11,792.56.13 crores on wednesday, the stock closed at Rs. 277.80, with an RSI of 21.61, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Deepak Nitrite Ltd

Deepak Nitrite Ltd. is a leading Indian chemical company with a diversified portfolio of chemical intermediates. Headquartered in Vadodara, Gujarat, it manufactures Basic Chemicals, Fine & Speciality Chemicals, and Performance Products, serving industries such as agrochemicals, pharmaceuticals, and dyes. 

With a market capitalization of Rs. 20,752.20 crores on Wednesday, the stock closed at Rs. 1521.50, with an RSI of 13.24, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Tata Chemicals Ltd

Tata Chemicals Ltd is an Indian multinational company that is part of the Tata Group, focused on providing sustainable chemistry solutions in two main segments: Basic Chemistry Products and Speciality Products. Its products include soda ash, sodium bicarbonate, and salt, along with speciality products like silica, prebiotics, and crop protection products through its subsidiary Rallis India.

With a market capitalization of Rs. 19,953.79 crores on Wednesday, the stock closed at Rs. 783.25, with an RSI of 23.77, indicating that it is in the oversold zone, offering the potential for an upside bounce.

ACME Solar Holdings Ltd

ACME Solar Holdings Ltd. is a leading renewable energy company in India that develops, builds, owns, and operates utility-scale solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects. Founded in 2003, the company has a significant portfolio of clean energy assets and manages projects from development through operations and maintenance.

With a market capitalization of Rs. 13,240.48 crores on Wednesday, the stock closed at Rs. 218.50, with an RSI of 20.15, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Written by Sridhar J 

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