Cochin Shipyard, NCC and three other Nifty 500 stocks are trading below RSI 30. What do you own?
Overview: Listed stocks Cochin Shipyard Ltd, NCC Ltd, Alkyl Amine Chemicals Ltd, BASF India Ltd and Piramal Pharma Ltd are currently in oversold territory with RSI values below 30, suggesting a possible price rebound.
The relative strength index (RSI) is a technical indicator used to measure the speed and changes in price movements in financial markets. 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 an asset may be overbought, which means it is overvalued and may cause a price correction. Conversely, an RSI below 30 indicates that the asset may be oversold and potentially undervalued and may experience a price bounce.
The stocks to watch out for are as follows:
Cochin Shipyard Ltd (CSL) is India’s leading shipyard and repair yard, a Government of India owned ‘Miniratna’ PSU established in 1972, known for building large ships such as aircraft carriers and providing comprehensive ship repair, refit and marine engineering training, serving the defense and commercial sectors globally.
Market capitalization is Rs. 39,660.74 crores on Thursday, the stock closed at Rs. 1507.55 (RSI 21.26) indicates we are in oversold territory and offers the potential for an upward bounce.
NCC Limited, founded in 1978 and headquartered in Hyderabad, is a leading Indian infrastructure and construction conglomerate known for its diverse portfolio including Buildings, Transport, Water & Environment, Irrigation, Electrical (T&D), Railways and Mining, providing turnkey solutions for complex projects across India and internationally.
Market capitalization is Rs. 9,609.19 crores on Thursday, the stock closed at Rs. 153.05 (RSI 15.59) indicates we are in oversold territory and offers the potential for an upward bounce.
Alkyl Amines Chemicals Ltd (AACL), founded in 1979, is a leading Indian manufacturer specializing in aliphatic amines, amine derivatives and specialty chemicals for pharmaceutical, pesticide, water treatment and rubber industries and is known for its strong market share of methylamines, ethylamines, acetonitrile and other niche products through R&D and expanded capacity at its Patalganga and Kurkumbh plants.
Market capitalization is Rs. 8,006.33 crores on Thursday, the stock closed at Rs. 1,565.45 (RSI 22.48) indicates oversold territory and offers the potential for an upward bounce.
BASF India Ltd. is the Indian arm of German chemicals giant BASF SE, a leading multinational creative chemicals company for a sustainable future, providing chemicals, materials, nutrition, surface technologies and crop protection solutions known for innovation and sustainability to various sectors including agriculture, automotive, pharmaceuticals and construction.
Market capitalization is Rs. 16,487.50 crores on Thursday, the stock closed at Rs. The RSI of 20.59 at 3,809.00 indicates that it is in oversold territory and offers the potential for an upward bounce.
Piramal Pharma Ltd (PPL) is a global pharmaceutical company providing integrated services such as contract development and manufacturing (CDMO), sales of hospital generics (anesthetics) and OTC consumer healthcare products.
Market capitalization is Rs. 22,131.98 crores on Thursday, the stock closed at Rs. 166.50, RSI at 22.69 indicates it is in oversold territory and offers the potential for an upward bounce.
Written by Sridhar J
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