ACC, NBCC: These Nifty500 stocks have just exited oversold zone on RSI

Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition

A number of stocks headed towards the oversold territory last week as investor sentiment turned negative following the sharp correction witnessed in the benchmark indices for six consecutive sessions. Till Friday, as many as 160 Nifty500 stocks had entered oversold zone on the Relative Strength Index (RSI).

However, as the benchmark indices opened strong on Monday, nearly half of those 160 stocks exited the oversold territory. Altogether, 71 stocks have now risen above the 30-mark on the RSI. Any stock below the 30 value on the RSI is considered 'oversold'. If these stocks manage to close in the green in today's