Berger Paints, Persistent: 5 oversold stocks that can bounce back up to 10%

HDFC Life, CoForge and Syngene are the other 3 stocks trading in oversold zone; Technically a RSI reading below 30 on the charts is considered oversold; here are the key levels.

Stock markets have turned volatile off late on the back of high equity valuation worries coupled with persistent FII selling and election jitters. The NSE Nifty 50 dipped 3.3 per cent from its all-time high of 22,795 hit earlier this month.

Meanwhile, the broader Nifty 500 index fell 3.5 per cent in the same period, despite Friday's pullback.

Amid this fall, quite a few stocks have entered oversold zone on the charts. Technically, RSI (Relative Strength Index) - a key momentum oscillator - reading helps in determining overbought and oversold stocks. 

The 14-day is plotted taking into consideration the price action of the