IndiGo, Hindustan Unilever: 4 Nifty stocks with RSI in oversold territory

Technical charts show that stocks such as IndiGo, Hindustan Unilever, Apollo Hospitals and Tata Motors Passenger Vehicles are trading in oversold territory based on the RSI parameter.

Amid the recent market correction, 4 Nifty 50 stocks saw the key technical momentum indicator - the Relative Strength Index - slip into the oversold territory.  The Relative Strength Index (RSI) is a momentum indicator that is used in measuring the speed and magnitude of change in the recent prices; thus helping in determining overbought and oversold conditions on the particular stock or index. The 14-day period is a commonly used time-frame used in calculating the RSI.  The RSI is measured on a scale of 0 - 100, with a reading below 30 is typically considered as 'oversold' while reading above 70 is considered as 'overbought'.  Here are 4 Nifty 50 stocks with an RSI reading below 30 on the daily charts. 

Apollo Hospitals Enterprise

 

  Last Close: ₹7,091; RSI: 26.25 

  Hindustan Unilever

 

  Last Close: ₹2,309; RSI: 29.70 

InterGlobe Aviation (IndiGo)

 

  Last Close: ₹4,890; RSI: 21.72   

Tata Motors Passenger Vehicles (TMPV)

 

  Last Close: ₹346; RSI: 28.18