HUL, ONGC, Trent among 7 BSE 100 stocks technically oversold on charts

The Relative Strength Index (RSI) is a technical momentum indicator which helps in determining overbought and oversold stocks; in general, a reading below 30 is considered as oversold.

Hindustan Unilever (HUL), Oil and Natural Gas Corporation (ONGC) and Trent were among 7 largecap BSE 100 stocks, technically trading in oversold zone as per the RSI indicator on the daily charts.  The Relative Strength Index (RSI) indicator is a commonly used momentum oscillator that measures the speed and change in price movements of the underlying stock/ index. In general, a 14-day period or 14-day RSI is a widely used indicator, as it helps in comparing the average gains and losses in that particular period and thus identify overbought and oversold levels.  The RSI is plotted on a scale of 0 - 100; with a reading below 30 considered as oversold, while a reading in excess of 70 as overbought.  Apart from HUL, ONGC and Trent; Power Grid Corporation, Power Finance Corporation (PFC), Apollo Hospitals and Tube Investments were seen trading in oversold zone, as per the 14-day RSI indicator on the technical charts.  On the stock exchanges, these 5 stocks have declined in the range of 5 - 8 per cent in the last 14 trading sessions. HUL and PFC were the top losers, down around 8 per cent each.

Here's a look at these stocks:

Hindustan Unilever

 

  Last close: ₹2,264; RSI reading: 29.22 

Oil and Natural Gas Corporation (ONGC)

 

  Last close: ₹232; RSI reading: 29.79   

Trent

 

  Last close: ₹4,029; RSI reading: 29.80   

Power Grid Corporation

 

  Last close: ₹258; RSI reading: 27.07 

Power Finance Corporation

 

  Last close: ₹335; RSI reading: 19.06 

  Apollo Hospitals Enterprise

 

  Last close: ₹6,920; RSI reading: 25.41   

Tube Investments of India

 

 

    Stock Price: ₹2,575; RSI reading: 26.90