Indian Prime Minister Narendra Modi's recent address to the U.S. Congress and Apple CEO Tim Cook's May visit to India both created a buzz around the subcontinent.
In trading on Friday, shares of the EGShares India Infrastructure ETF entered into oversold territory, changing hands as low as $12.62 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
In trading on Tuesday, shares of the EGShares India Infrastructure ETF crossed below their 200 day moving average of $13.11, changing hands as low as $12.98 per share. EGShares India Infrastructure shares are currently trading off about 2.5% on the day.