The Relative Strength Index (RSI) is a tool used in stock trading to check how fast and how much a stock’s price is changing. It has a scale from 0 to 100. If the RSI is above 70, the stock might be overpriced and could see a drop. If it is below 30, the stock might be underpriced and could rise. RSI is usually calculated over 14 days.
Here is the list of bank stocks that are in the Oversold Zone on RSI:
The Central Bank of India is one of the oldest and largest public sector banks in India, established in 1911 and headquartered in Mumbai, Maharashtra, offering a wide range of financial services, including retail banking, corporate banking, treasury operations, and agricultural finance.
With a market capitalization of Rs. 33,490 crores, the stock is trading at Rs. 37. The RSI stands at 29.21, indicating that the stock is in the oversold zone. This suggests a potential for an upside bounce.
Punjab & Sind Bank is a public sector bank headquartered in New Delhi, India, established in 1908 with a strong presence across the country bank offers a wide range of banking and financial services, including retail banking, corporate banking, MSME financing, agriculture banking, and digital banking solutions.
With a market capitalization of Rs. 21,428 crores, the stock is trading at Rs. 30.20. The RSI stands at 26.04, indicating that the stock is in the oversold zone. This suggests a potential for an upside bounce.
Indian Overseas Bank (IOB) is a public sector bank, established in 1937 and headquartered in Chennai, Tamil Nadu. along with an overseas presence in Singapore, Hong Kong, and Colombo. The bank offers a wide range of banking and financial services, including retail banking, corporate banking, MSME financing, agriculture banking, and digital banking solutions.
With a market capitalization of Rs. 72,924 crores, the stock is trading at Rs. 37.87. The RSI stands at 29.71, indicating that the stock is in the oversold zone. This suggests a potential for an upside bounce.
UCO Bank is a public sector bank in India, established in 1943 and headquartered in Kolkata, West Bengal. The bank also has an international presence in countries like Singapore and Hong Kong.
With a market capitalization of Rs. 38,095 crores, the stock is trading at Rs. 30.38. The RSI stands at 27.95, indicating that the stock is in the oversold zone. This suggests a potential for an upside bounce.
Written By Abhishek Das
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