In trading on Friday, shares of the Daily India Bull 3x Shares ETF ( INDL) entered into oversold territory, changing hands as low as $81.09 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. A stock is considered to be oversold if the RSI reading falls below 30.In the case of Daily India Bull 3x Shares, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 45.8. A bullish investor could look at INDL's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), INDL's low point in its 52 week range is $42.07 per share, with $112.12 as the 52 week high point — that compares with a last trade of $81.22. Daily India Bull 3x Shares shares are currently trading off about 3.1% on the day.