The RSI compares bullish and bearish price momentum plotted against the graph of a share’s price. Signals are considered overbought when the indicator is above 70% and oversold when the indicator is below 30%. This is a good oscillator because this can help us to determine the trend, time entries etc.
As far as HCL Tech is concerned, our entry price is shown above RSI 30 indicator so that we get extra confirmation for Buying.