Top smallcap stocks with RSI in the oversold zone

Top smallcap stocks with RSI in the oversold zone

by 5paisa Research Team Last Updated: Feb 25, 2022, 12:55 PM IST

The Relative Strength Index is a widely used momentum indicator by technical analysts. Read on to find out top smallcap stocks with their RSI in the oversold zone.

On February 24, 2022, Nifty 50 registered the second-worst fall since the lows of March 2020. This was amid an escalation of geopolitical crisis in Ukraine. Russia yesterday launched an invasion of Ukraine by land, air and sea which is the biggest attack by one state against another in Europe since the second world war. Yesterday, Nifty opened with a significant gap down and continued falling throughout the day and closed almost at the day’s low.

At the closing bell, Nifty was down 815.7 points (4.78%) at 16,247.9, recording the fall for the seventh consecutive trading session. Among the indices in the Asia region, Nifty proved to be the worst-performing index. On the sectoral front, all the sectoral indices ended in the red with realty, power, banking, automobile and telecom being the worst-hit sectors. The broader market indices such as the S&P BSE Smallcap index and S&P BSE Midcap index were down 5.77% and 5.53%, respectively.

The impact of the Russia Ukraine conflict would be on the commodity prices, disruptions in supply and the sanctions by the western nations remains uncertain. If the negative developments persist and gains momentum, then the Nifty might extend the southwards march towards 15,400 levels. However, in the near-term Nifty is likely to take support at 15,880 to 15,952 zone while on the upside 16,410 might act as resistance.

While you screen stocks, there are various factors such as market cap, volumes, moving averages, etc. that you should consider. Similarly, the Relative Strength Index (RSI) which is a momentum indicator would definitely help you in screening stocks.

RSI is an indicator that helps you measure the magnitude of recent price changes to evaluate overbought or oversold situations. RSI is usually displayed as a line graph on a scale of 0 to 100 which moves between two extremes. It is believed that stocks with an RSI of 70 or above suggest overbought or overvalued conditions and probably signals for a trend reversal or correction. On the flip side, an RSI of 30 or below suggests an oversold or undervalued situation.

Top five S&P BSE Small-Cap Index stocks with RSI in oversold zone 

Stocks 

Last Traded Price (Rs) 

Change (%) 

RSI 

Jubilant Pharmova Ltd. 

401.2 

-4.3 

10.7 

Forbes & Company Ltd. 

397.7 

-4.0 

11.6 

Cochin Shipyard Ltd. 

287.3 

-4.9 

12.3 

Career Point Ltd. 

102.6 

-9.1 

12.5 

Mrs. Bectors Food Specialities Ltd. 

297.7 

-3.9 

12.6 

SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
0.00 (0.00%)
Nifty Bank
33,597.60
0.00 (0.00%)
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SENSEX
52,973.84
180.22 (0.34%)
Nifty 50
15,842.30
0.00 (0.00%)
Nifty Bank
33,597.60
0.00 (0.00%)

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