NBCC, PNB, HEG: One-third of Nifty500 stocks trade in oversold territory

The RSI (Relative Strength Index) and Stochastic are momentum oscillators that identify strength and weakness of traded securities

The markets have seen a steady fall since the presentation of the Union Budget on July 5, with the S&P BSE Sensex and Nifty50 slipping over 5 per cent each. The bearish sentiment has seen significant support levels getting broken. Neither the advance/decline nor stock price are showing any signs of recovery. As the nervousness prevails, staying away for now appears to be the general mood of investors.

As the markets drift towards lower levels, several stocks have entered oversold territory. Unless markets see some stability, staying away from stocks looks to be a wise thing to do.

A quick